Our basic wants: Food and Energy in hands of the Russian Federation invaders of Ukraine, that same Russia who most likely can be called perpetrators of genocide. Markets have no conscience and we can see this when we read this piece from Reuters about China and trade with Russia.

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SINGAPORE, June 20 (Reuters) – China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.

Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and Far Eastern ports, totalled nearly 8.42 million tonnes, according to data from the Chinese General Administration of Customs.

That’s equivalent to roughly 1.98 million barrels per day (bpd) and up a quarter from 1.59 million bpd in April.

  • The data, which shows that Russia took back the top ranking of suppliers to the world’s biggest crude oil importer after a gap of 19 months, indicates that Moscow is able to find buyers for its oil despite western sanctions, though it has had to slash prices.

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