China to increase oil imports from Russia by 1.3% in 2024

Last year China increased the volume of imported Russian oil by 1.3%. This was reported by TASS on January 20 with reference to the data of the General Customs Administration of China.

Thus, in 2024 China increased imports of Russian oil by 1.3% to 108.47 million tons compared to 2023. At the same time, the value of imports increased by 2.8% and reached $62.42 billion.

Also last year, the volume of Russian liquefied natural gas (LNG) supplies to China increased by 3.3% to 8.3 million tons. The value of imports fell by 3.5%, dropping to $4.99 billion.

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Earlier, on November 7, China reported that the volume of trade turnover between Russia and China increased by 2.8% between January and October compared to data for the same period in 2023. At the same time, total exports of goods from Russia to China amounted to $108.07 billion, while supplies from China to Russia increased by 4.7% to $94.14 billion.