Russia is now the top oil supplier to China after May sales notched a 55% increase year over year. China spent $7.5 billion on Russian oil. This was partly due to the war in Ukraine and Western sanctions conspiring to offer deep discounts on Russian crude, combined with how China’s rise out of Corvid lockdowns gave the nation an almost insatiable appetite for energy.

8.4 million tons of Russian crude flowed through the East Siberia Pacific pipeline, and into a fleet of tankers who delivered it to China’s ports for refining. In the process, Saudi Arabia found itself knocked into second place on the list of Chinese suppliers.

Even as Chinese demand continues to be suppressed by intermittent Covid lockdowns, and a cooling global economy, China is importing nearly 2 million barrels of Russian crude per day.

Bloomberg News wrote, “China’s total imports from Russia accelerated in May, surging 80% on year to $10.27 billion, as Beijing continues to offer support to an otherwise isolated government in Moscow.”

Some also note the purchasing is a part of a broader geopolitical position of China in a loose knit alliance with Russia against the Western powers.

Since the war in Ukraine, China has criticized economic sanctions on Ukraine as, “financial terrorism,” and “economic weaponization,” as it has attacked the sale of arms to Kiev in its fight against Russia.

China also disregards sanctions on Iran, to purchase about 7% of its oil from Iran. receiving about 260,000 metric tons last month. Much of China’s purchases are laundered through other countries to conceal the source and evade US sanctions on Iran.

India is also importing Russian crude in large quantities, buying enough to almost completely make up the shortfall in lost sales to Europe produced by the sanctions, albeit at discounted prices.

In other news, the Russian government accuse Ukraine of launching attacks on offshore drilling platforms owned by a Crimean energy firm.