China Saved $10 Billion By Buying Cheap Oil From Sanctioned Exporters | ZeroHedge
Authored by Tsvetana Paraskova via OilPrice.com,
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A Reuters analysis has shown that China is likely to have saved around $10 billion on crude oil imports so far this year by importing sanctioned oil.
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Venezuela, Iran, and Russia are all under sanctions and made up 25% of overall Chinese crude oil purchases in the first nine months of 2023.
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Russia's discounted oil has been snapped up by China and India this year, overtaking imports of oil from Saudi Arabia.
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