MOSCOW, Oct 15 – Since the start of the Ukrainian conflict, Russia, a leading global oil producer, has cemented its energy ties with China, the world’s No. 2 oil consumer after the United States.
Beijing has rejected Western criticism of its growing partnership with Moscow in light of Russia’s conflict in Ukraine. It insists the ties do not flout international norms, and China has the prerogative to collaborate with whichever country it chooses.
According to China’s customs data, the growth of China’s exports and imports with Russia on a year-on-year basis quickened in September from August.
Bilateral trade value surged to $21.18 billion last month, the highest since February 2022 when Russia started its military operation in Ukraine.
Last month, Chinese Commerce Minister Wang Wentao said China-Russian economic and trade cooperation had deepened and become more “solid” under the “strategic guidance” of their two leaders.
Following is a list of some key energy projects and developments between Russia and China:
OIL
Russia exports around 2.0 million barrels of oil per day to China, accounting for more than a third of its total crude oil exports. China is Russia’s second-largest buyer of Russian oil after India.
About 40% of supplies flow via the 4,070-km (2,540-mile) East Siberia Pacific Ocean (ESPO) pipeline that was financed by Chinese loans worth an estimated $50 billion.
