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Russia-Ukraine war: Russian oil cap comes into force…China reacts

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1 year ago

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China says will continue energy cooperation with Russia after G7 price cap on oil exports.

The Chinese foreign ministry has said it will continue energy cooperation with Russia after the G7, EU and Australia imposed a price cap on Russian oil exports.

China, which said it would continue on the basis if respect and mutual benefit, has increased its purchases of Russia’s Urals oil blends this year, reports Reuters, citing Russia’s RIA news agency.

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It comes after the UK, Japan, Germany, Italy, France, Canada, the US, EU member states and Australia came to an agreement to put a $60 a barrel price cap on the world’s second-largest oil exporter (see 6.01am).

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Details later….

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