Russia is now the top oil supplier to China
The oil-for-loans deals have now, for the first time, made Russia surpass Saudi Arabia as the biggest oil supplier to the Chinese market
BY RITZAU FINANS
In May, Russia became China's top supplier of crude oil for the first time ever. This means that Russia has surpassed Saudi Arabia, the world's biggest oil exporter, and the largest supplier of crude oil to China until now. Analysts estimate that the development is caused by the "oil-for-loans" deals that China has made with Russia, reports the Wall Street Journal.
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