According to foreign media reports, as the West continued to restrict the import of crude oil from Russia, Russian oil exports to China increased significantly. In May, China imported from Russia has increased by 55% over the previous year. State -owned Sinopec and Zhenhua Petroleum enjoyed a large discount from Russia. Last month, Russia replaced Saudi Arabia as the main supplier of PetroChina.
According to reports, China has surpassed Germany and has become the world’s largest imported Russian oil importer. With the decrease in shipments in most parts of Europe, Russian crude oil is now flowing to Asia in unprecedented ways. China and India have become the main receiving countries. Compared with the benchmark Brent crude oil, the current transaction price is about 120 per barrel 120 per barrel. US dollars, the price has been reduced by 30 to 35 US dollars.