Letter from China: Beijing backs Moscow
China’s energy imports have offered Russia a lifeline as Western sanctions bite
Russia’s invasion of Ukraine three months ago prompted speculation as to how much support China would be prepared to provide to its northern neighbour and ‘strategic partner’. The most recent energy trade data from the world’s second-largest economy appears to provide an answer. While Beijing has declined to provide direct diplomatic support, it has boosted energy imports from Russia, offering a lifeline to Moscow that has enabled it to withstand Western economic and financial sanctions. The value of China’s imports from Russia in April hit a record high of $8.89bn, up by 56.6pc from a year earlier and 13.3pc higher than March, according to Chinese customs figures. Purchases of oil, gas and
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind