CHINA NOTED RUSSIA'S LEADERSHIP IN OIL SUPPLIES TO CHINA IN JANUARY - JUNE

China imported 52.6 million tonnes of oil from Russia in January-June, up 27.3% year-on-year. The Russian Federation continues to lead in the volume of supplies to China, according to statistics published on Thursday by the General Administration of Customs of the People's Republic of China.

At the same time, the value of imports for the period decreased year-on-year by 3.7% to $28bn.

The second largest supplier is Saudi Arabia, which supplied 46.5 million tonnes of oil worth $28.3 billion, followed by Iraq, which exported 29.5 million tonnes worth $17 billion to the PRC. Also among the top five suppliers were Malaysia and the UAE, whose imports amounted to 25.6 million tonnes ($12.8 billion) and 21.5 million tonnes ($13.5 billion) respectively. There is no Iran among some 40 countries listed as oil suppliers to China in 2023.

Separately, Russia supplied China with 10.5 million tonnes of oil in June, 8.2% more than in May. In monetary terms, imports from Russia rose 1.6% to $5.2bn.

According to Chinese customs data, China's imports of Russian oil rose by 8.2% to 86.2 million tonnes in 2022. The value of energy purchased by China from Russia then increased by about 43.9% to $58.37bn.

Source: TASS