China is After Russian Oil
Burc Oran
May 20, 2022
Oil Prepares to End The Week With a Decline

It is stated that China is negotiating with Russia to purchase oil for its reserves.

While the embargo plans regarding Russian oil remain on the agenda, cheap oil bargains are being made between China and Russia. China is negotiating to buy cheap Russian oil to replenish its strategic oil reserves.

Sources stated that the talks are at the government level and that the relevant companies have participated in the negotiations at a limited level. During the negotiations, it was stated that the details about the volume were not clear.

The foreign ministries of both sides also did not respond to Bloomberg’s request for comment.

While the USA and England placed an embargo on Russian oil, the European Union could not reach an agreement on the embargo due to the objections of some member states, especially Hungary.

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