Financial TimesFinancial Times

China’s independent refiners start buying Russian oil at steep discounts

By Sun Yu

03 May 2022 · 3 min read

China’s independent refiners have been discreetly buying Russian oil at steep discounts as western countries suspend their own purchases and explore potential embargoes because of the war in Ukraine.

An official at a Shandong-based independent refinery said it had not publicly reported deals with Russian oil suppliers since the Ukraine war started in order to avoid attracting scrutiny and being hit by US sanctions.

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