China and Russia have developed increasingly close ties in recent years, and as recently as February announced a “no limits” partnership, and China has refused to condemn Russia’s action in Ukraine or call it an invasion. Photo: Reuters
China and Russia have developed increasingly close ties in recent years, and as recently as February announced a “no limits” partnership, and China has refused to condemn Russia’s action in Ukraine or call it an invasion. Photo: Reuters

China state oil refiners ‘cautious’ of new Russian oil as Western sanctions mount over Ukraine invasion

  • Sinopec, China National Offshore Oil Corporation (CNOOC), PetroChina and Sinochem have stayed on the sidelines in trading fresh Russian cargoes for May loadings
  • Chinese state-owned firms do not wish to be seen as openly supporting Moscow by buying extra volumes of oil after sanctions imposed by the United States and European Union

China and Russia have developed increasingly close ties in recent years, and as recently as February announced a “no limits” partnership, and China has refused to condemn Russia’s action in Ukraine or call it an invasion. Photo: Reuters
China and Russia have developed increasingly close ties in recent years, and as recently as February announced a “no limits” partnership, and China has refused to condemn Russia’s action in Ukraine or call it an invasion. Photo: Reuters
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