China’s spending on Russian energy jumps to $6.4 billion in June
China spent 72% more on Russian energy purchases in June from a year earlier, as higher prices due to the war in Ukraine raised its import bill for oil, gas and coal, Bloomberg reports.
Chinese buyers spent a combined $6.4 billion, up from $3.7 billion in the same month the previous year, according to customs data released on Wednesday. It brings China’s total outlay on Russian energy from March to June to $25.3 billion, nearly double the $13.5 billion spent in the same four months of 2021.
China is purchasing more energy from its strategic ally, sometimes at discounted rates, as other nations shun Russian goods as punishment for its invasion of Ukraine. But, while China has delivered more money for oil, gas and coal to President Vladimir Putin’s coffers than any other nation since the start of the war, its spending is still dwarfed by Europe as a bloc, according to a report from the Centre for Research on Energy and Clean Air last month.