China sharply reduced the purchase of oil in Russia after Putin's meeting with Xi Jinping

The main buyer of Russian oil has reduced purchases by 30%. In the PRC went to oil from the Middle East. China reduced the purchase of Russian oil by 30% after Putin's trip to Xi Jinping. In July, oil supplies from Russia to China fell by 7. 4% compared to last year and reached 1. 76 million barrels per day - the lowest level since the end of last year. About it reports The Moscow Times. The decline began in the first quarter and accelerated after Vladimir Putin's visit to Beijing in May 2024.

If in March the Russian Federation sold 2. 55 million barrels a day in the PRC, then by June the volume dropped to 2. 05 million barrels a day, and in July amounted to 1. 9 million. Therefore, in 4 months the supply of oil to China fell into 30 months %, and since the beginning of the year - by 22% (in December it was 2. 25 million barrels per day). Moscow's income from oil supplies to the PRC in January-March amounted to $ 16. 34 billion. But China was not left without oil.

Russian oil in the PRC is replaced by supplies from the Middle East: imports from Saudi Arabia increased by 13% in July, and import from Malaysia - by 61%. Malaysia, it is worth noting, is the main hub from the transit of oil from the sub -country countries - Iran and Venezuela. At the same time, China remains the largest buyer of Russian oil, taking 43% of all barrels exported abroad.

Of all the goods that Russia supplies to the PRC, almost two -thirds accounting for oil, and more than 90%of raw materials. At the same time, the Prime Minister of the State Council of the People's Republic of China, who stated that Russia and China strengthen political mutual believe, and relations, and the relations, and the relations of the Russian Federation itself, and the Prime Minister of the State Council itself.