China's Traders Are Making A Killing Selling Russian Energy Products To Countries That Have Sanctioned Russian Energy Products

CC BY-SA 4.0 / Maciej Margas / Clean Ocean LNG tanker 

Sputnik: China's Russian LNG Import Value Tripled in 2022 as Beijing Acts as Middleman to Sanctioning Nations 

Since the start of 2022, China has signed major deals with Russia, Saudi Arabia, and others to dramatically increase its importing and processing of petroleum products, including crude oil and liquefied natural gas (LNG), as well as coal. 

According to newly released customs data, China increased its LNG imports from only two countries so far in 2022 - Qatar and Russia, the latter of which nearly tripled from 2021 numbers. At the same time, China’s LNG exports have increased, in part to offset the economic effects of Omicron-driven lockdowns.  

According to the South China Morning Post (SCMP), which viewed the data, the value of LNG coming to China from Russia via pipelines in the first eight months of 2022 was nearly triple that seen in the previous year, amounting to $2.39 billion. In terms of volume, China’s overall LNG imports from Russia increased by 28.5% year-on-year; for imports from Qatar, they increased by 66.7%, or two-thirds.  

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WNU Editor: It is always about the money. 

China's Traders Are Making A Killing Selling Russian Energy Products To Countries That Have Sanctioned Russian Energy Products  

China is benefitting from LNG sales to Europe as some traders resell non-Russian cargoes at high prices while restocking with cheap Russian fuel -- Insider  

China’s Energy Giants Sell Gas to World Scrambling for Supply -- Bloomberg  

China Is Quietly Reselling Its Excess Russian LNG To Europe -- OilPrice.com