Saudi Aramco, the national oil company of Saudi Arabia, decided to cut off crude oil supplies to China in July 2022 due to the increasing imports of Russian fuel by Chinese oil companies. About informs Reuters cites sources.
Saudi Aramco reported that it will contractually supply less crude oil to at least five Asian oil refineries(s), mostly from China, in July.
The decrease was due to the fact that China recently began to actively buy oil from Russia at a large discount compared to other countries. There is also a strong worldwide demand for oil from Saudi Arabia. Therefore, the supply of Saudi oil to the market has now become limited.
June 10 Japanese newspaper Nihon Keizai WroteHe said that the effectiveness of Western sanctions against the Russian Federation is waning due to increased purchases of Russian energy resources by China and India.