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In defiance of geopolitical tensions, China continues to assert its economic sovereignty by ramping up its imports of Russian crude oil. This month, the Asian powerhouse is set to import a staggering amount of Russian oil, predominantly Sokol grade, as India shies away due to US sanctions concerns, as per Kpler data.
According to Kpler's tracking data, China is expected to import approximately 1.7 million barrels per day of Russian crude this month, with Sokol oil volumes reaching an unprecedented high of 379,000 barrels per day—a tripling from the previous month's figures.
Despite Moscow's invasion of Ukraine, China remains steadfast in its strategic partnerships, leveraging the availability of cheaper Sokol oil after India's withdrawal from the market. Notably, imports of ESPO (Eastern Siberia-Pacific Ocean) crude are also on the rise, projected to hit 882,000 barrels per day this month—the highest since January 2023.
As the world's most vital commodity, oil remains a battleground for economic sovereignty, and China's actions speak volumes about its determination to chart its own course in the global economy.
It seems that China, despite all the uncertainty, knows what it's doing, they may have a well-laid plan from the start.
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And they are feeding the BRICS with their keynesian fiscal and monetary stimulus
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