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- See also: Let's get ready for an increase in fuel prices. Oil up after sanctions on Rosneft and Lukoil
China imports even more oil from Russia
As reported by Reuters, China did not bow to the pressure of Donald Trump's administration. In November alone, Beijing imported almost 51 million tons of oil, equivalent to daily imports of 12.38 million barrels.. In practice, this means an increase of almost 5%. From January this year to November, the Middle Kingdom imported almost 522 million tons of oil, which means an increase of 3.2%. compared to the same period last year.
“Domestic demand has declined seasonally, but sanctions on oil supplies from Iran and Russia have resulted in significant reductions in crude prices, improving refining margins and prompting more refiners to apply for earlier import allocations,” Emma Li, chief China analyst at Vortexa, said in an interview with Reuters.
- See also: Ukrainian attacks and American sanctions are crippling Putin's oil sector. A double strike into the Kremlin's goldmine is underway [ANALIZA]
How much will Russia earn this year from selling oil?
According to official data and statements by Russian officials, the share of revenues from oil and gas in Russia's federal budget in 2025 will not exceed 30%. However, this is not the result of profit diversification, but the result of sanctions and less interest in Russian oil. By the end of October, the Kremlin had earned 7.56 trillion rubles (approx. USD 94-95 billion) from fuel sales. That's about 20 percent. less than in the same period last year.
