FT learned about the increase in purchases of Russian oil by private refineries in China

According to newspaper sources,private Chinese refineries increased purchases of Russian oil due to fears of state traders to fall under secondary sanctions

Independent oil refineries (refineries) in China have increased purchases of Russian oil, which is sold at "heavy discounts". This is reported by the Financial Times, citing its own sources.

According to the newspaper, the increase in oil purchases by private PSs is due to the refusal of state traders to sell quotas due to fear of secondary sanctions. In this regard, they transfer quotas to private companies, the FT specifies.

As a representative of one of the refineries in Shandong (a province in eastern China . -) told the publication , since the start of the conflict in Ukraine, he has not publicly reported on transactions with Russian suppliers, so as not to attract attention and not fall under US sanctions . At the same time, according to him, the plant took over part of the quotas for the purchase of Russian oil from state traders.

Reuters learned about the position of Chinese state-owned companies on the purchase of Russian oil Business

Earlier, Reuters, citing sources, reported that Chinese state-owned companies such as PetroChina, Sinopec, Sinochem and CNOOC maintain existing contracts for oil supplies from Russia, but refrain from entering into new ones amid Beijing's cautious position in connection with sanctions against Moscow. In addition, the interlocutors of the agency noted that Russian oil is sold at "huge discounts", but there are many problems associated with payments and shipment insurance.

See also Sanctions on Russia and Pivot to China 11:38

Since the beginning of the Russian military operation in Ukraine, Western countries have already introduced several packages of sanctions against Moscow. The United States, in particular, completely banned the import of oil from Russia. Similar plans were reported by representatives of the EU. According to European Energy Commissioner Kadri Simson, a new package of EU sanctions against Russia could be announced as early as May 4.

Read on RBC Pro Pro Ten ways,that will help the manager avoid burnout Instructions Pro Why blocking the development of employees is especially dangerous now Instructions ProWork for which an employee needs to be paid not only a salary Articles Pro Be unemployed:from whom and what payments can be received Instructions Pro How importers were able to protect themselves from the high volatility of the ruble ArticlesPro Wait for counterfeit:what risks of parallel imports threaten Russia Articles Pro Why did CNN+ close and what will happen to other streaming services Articles ProHow national characteristics influence the management model - 6 indicators Articles

As WSJ sources noted, within the framework of the sixth package of sanctions, the European Union will fix the refusal to purchase Russian oil for six months and the cessation of imports of petroleum products by the end of the year.

 

Favorable course inFavorable exchange rate at VTB officesThe larger the amount, the greater the benefit.More than 1,000 branches across the countryPreliminary calculation inonline converter