Russia Becomes Largest Supplier Of Crude Oil To China Surpassing Saudi Arabia
China has seemingly started to make use of Russia's discounted crude oil prices, as Russia became China's largest supplier of oil, overtaking Saudi Arabia. Amid western sanctions against the Russian invasion of Ukraine, Russia discounted the prices of its crude oil. As per data, China has imported 8.42 million metric tons of crude oil in May, which is 55% more than the previous year.