China's oil imports from Russia soar, fuelling Kremlin's imperial ambitions

The volume of Russian oil exports to China has hit a record level, handing the Kremlin vital income as it continues its brutal invasion of Ukraine.

By Salaam Times and AFP

2022-07-01

Russian artillery hits Ukrainian positions in May. [Russian Ministry of Defence3]

BEIJING -- Russia has become China's largest source of oil as Beijing and Chinese companies stepped in to fill the gap left from biting Western sanctions.

China imported 8.4 million tonnes of oil from Russia in May -- -- a 55% on-year rise -- compared with 7.8 million tonnes from Saudi Arabia, according to data released on June 20 by China's General Administration of Customs.

The volume of Russian oil exports to China grew by 28% from the previous month, hitting a record level and handing the Kremlin $5.7 billion in revenue.

In total, China bought $7.47 billion worth of Russian energy products in May, about $1 billion more than in April, according to Bloomberg News.

A rescuer clears rubble at the Amstor mall in Kremenchuk, Ukraine, on June 28, one day after it was hit by a Russian missile strike. [Genya Savilov/AFP]

This screengrab taken on March 30 from video by state broadcaster China Central Television (CCTV) shows Russian Foreign Minister Sergey Lavrov (left) meeting his Chinese counterpart Wang Yi in Huangshan, Anhui province, during his first visit to China since Moscow launched its invasion of Ukraine in February. [STR/AFPTV/CCTV/AFP]

This source of income has been vital to the Kremlin as it continues its brutal invasion of Ukraine, and as Russian President Vladimir Putin likens himself to Peter the Great, who expanded the Russian empire in the 18th century.

Chinese President Xi Jinping on June 15 assured Putin of China's support on Russian "sovereignty and security".

China has refused to condemn Moscow's massive military assault on Ukraine and has been providing diplomatic cover for Russia by blasting Western sanctions and arms sales to Kyiv.

China is "willing to continue to offer mutual support [to Russia] on issues concerning core interests and major concerns such as sovereignty and security", state broadcaster China Central Television (CCTV) reported Xi as saying during a call with Putin.

It was the second reported call between the two leaders since Putin launched his invasion of Ukraine on February 24, which has killed thousands and displaced millions.

Xi praised the "good momentum of development" in bilateral relations since the start of the year "in the face of global turmoil and changes", according to CCTV.

Beijing is willing to "intensify strategic co-ordination between the two countries", Xi reportedly said.

The Kremlin said the two leaders had agreed to ramp up economic co-operation.

"It was agreed to expand co-operation in the energy, financial, industrial, transport and other areas, taking into account the situation in the global economy that has become more complicated due to the unlawful sanctions policy of the West," the Kremlin said following the phone call.

'Wrong side of history'

The United States swiftly responded with a frosty retort to Beijing's expressed alignment with Moscow.

"China claims to be neutral, but its behaviour makes clear that it is still investing in close ties to Russia," a State Department spokesperson said in a statement.

"China has already made a choice," the statement continued.

Nearly five months into Russia's war in Ukraine, "China is still standing by Russia. It is still echoing Russian propaganda around the world. It is still shielding Russia in international organisations... And it is still denying Russia's atrocities in Ukraine by suggesting instead that they were staged," it said.

"Nations that side with Vladimir Putin will inevitably find themselves on the wrong side of history."

"This is not a moment for equivocation or hiding or waiting to see what happens next. It is already clear what is happening," the statement concluded.

The West has imposed unprecedented sanctions on Russia in retaliation for its invasion of Ukraine, and Moscow accuses Europe and the United States of thereby causing a global economic slowdown.

Moscow is also looking for new markets and suppliers to replace the major foreign firms that left Russia following the invasion.

The European Union and the United States have warned that any backing from Beijing for Russia's war, or help for Moscow to dodge Western sanctions, will damage ties.

'No limits' friendship

Once bitter Cold War enemies, Beijing and Moscow have stepped up co-operation in recent years as a counterbalance to what they see as US global dominance.

The pair have drawn closer in the political, trade and military spheres as part of what they call a "no limits" relationship.

This month they unveiled the first road bridge linking the two countries, connecting Blagoveshchensk, Russia, with Heihe, China.

The leaders' call June 15 fell on Xi's 69th birthday and was their first reported communication since the day after Russia invaded Ukraine.

Beijing is Moscow's largest trading partner, with trade volumes last year hitting $147 billion, according to Chinese customs data.

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4 Comment

| 2022-07-10

China, Russia, America, and others who call themselves superpowers are the ugliest powers in the world. Every one of them claims to have made this kind of weapon and that kind of weapon. They are proud of their weapons as fools. I want to ask if the weapons you stupid have made can recover a dog like the one shown in this video? No. When the answer is no, you ask what the goodness of your weapons is to this dusty world? Noting. But if you want to see the damage to the world, remember the events of Hiroshima and Nagasaki; how painful for a human it was! I say this not only to the United States but also to Russia and China. Did you show us in school two bullets plus two bullets? Then you wrote us the answer in four bullets. We were little kids, but we were learning this shit. When we grew up, we turned to and killed each other. Afghan, American, Russian, Chinese, Indian, ... all have the same color of blood; all these human beings have the same value. Destroy these stupid weapons you have made. Serve man instead of these weapons to please God. Then I ask you if your guns can recover such a sick dog? https://www.facebook.com/watch?v=1168691793193869

| 2022-07-06

Everyone in the world who has become arrogant has faced failure. First, Russia oppressed Afghanistan, destroyed it, and killed or injured millions of people or forced them to flee, but God disgraced Russia (Soviet Union). Now it has oppressed Ukraine and killed innocent women and children or forced them to flee. The result will be defeat and embarrassment to Russia. China should also refrain from such an attack on Taiwan and allow Taiwan to choose its system and live freely.

| 2022-07-04

So true! China benefits both from the competition between the West and Russia as well as from the competition between Iran and the west. It has been reported recently that, Iran considered more concessions in the selling of oil to Chinese buyers in order to maintain its position in the Chinese market. This happens when Iran lost its position in the Chinese oil market due to the western sanctions against Russia, which caused Russia to sell its oil at a high discount to China resulting on the decrement of demand for Iranian oil in the Chinese markets.

| 2022-07-02

In fact, politics should be learned from China. While the Russian economy is facing the peril of bankruptcy, it is isolated internationally and is increasingly isolated politically. Its military power has also been weakened during the Ukraine war. But China receives the following benefits from this war: - As the world's only superpower, stayed behind Russia, Russia is also forced to place itself at China's disposal, and China will get Russia's oil and other products at a very low price. - It will also put pressure on the West to maintain its neutrality on the issue of Taiwan and continue to make the West more dependent on its commercial goods. - It also put Taiwan under psychological pressure that if Russia attacks Ukraine, which is an independent country and is recognized by the world, we can also attack you, especially when you are not recognized by the world. In my opinion, the main loser of the war between Ukraine and Russia is at first Ukraine, and then Russia and the main winner of this war is China first, and then the Western countries.