China takes advantage of sanctions-hit Russia's isolation to buy cheap crude oil
Shortpedia
Content Team
Image Credit: TWitter
After several governments in the West imposed economic sanctions on Russia after it invaded Ukraine, Russian offered discounts on its oil and China grabbed the offer. When some foreign governments and companies imposed sanctions, Russia was left with fewer buyers. So to counter that, it started offering discounts on oil to countries. China has been most active in grabbing the offer.
