Beijing: China is depending more on Russia than Islamic countries to import oil. Along with India, China too has joined in the oil diplomacy while Europe and US tighten their sanctions against Russia. India-Russia-China fuel deals once again prove that the three major powers in the Asian region are not competing in trade.
China has given out the figures of last one year’s oil trade. Of this, China imported 8.42 million metric tonnes of crude oil from Russia in May alone and the figure seems to be 55 percent more than the last time. China, which relied heavily on Saudi Arabia, has now approached Russia. Now, China’s 80 percent of the total import is from Russia.
In addition to the oil import, China has increased its import of liquefied natural gas from Russia by 54 percent.
China’s approach for oil comes after its slight disagreement with Russia when the global powers imposed restrictions on them during the Ukraine – Russia war.