Quote:
Originally Posted by Catfish
Since Russia invaded Ukraine, China and India have ramped up their purchases of Russian energy at discounted prices. Meanwhile, Russia has been reeling in handsome profits from its sales in which it made $24 billion in just three months to the end of May from selling energy to the two countries.
But with demand from China dropping, those profits could take a hit. According to new data, China's purchases of Russia oil dropped 14% from May as COVID lockdowns hit the economy again.
The drop-off in Chinese oil purchases raises the issue of whether Russia's economy can successfully find Asian buyers to replace barrels that no longer ship to Europe.
https://markets.businessinsider.com/...n-crude-2022-7 |
Maybe not exactly related to your post but what the hell. Back in March the opinion Hu Wei, the vice-chairman of the Public Policy Research Center of the Counsellor’s Office of the State Council, is of the view that Russia is doomed to economic collapse and political disintegration from Putin’s failed war.
In advising Beijing to dump Putin immediately and start rebuilding ties with the West, Hu is swimming against mainstream China and President Xi Jinping’s foreign policy.
Hu calls for “unloading the burden of Russia as soon as possible” so that China can begin “safeguarding its own best interests.”
Hu, who is also the chairman of the Shanghai Public Policy Research Association, warns:“The power of the West will grow significantly, NATO will continue to expand, and US influence in the non-Western world will increase.
“China will become more isolated,” he wrote, according to a translation of his paper published by the US-China Perception Monitor (USCNPM) on March 12. The online publication is produced by the Carter Center founded by former US president Jimmy Carter.
https://uscnpm.org/2022/03/12/hu-wei...-china-choice/