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China Moving to Russian Oil; ย  ย ย Saudi Supply Leaves Bad Taste

Worldย | 20:40, 27.12.2015 (updated 20:50, 27.12.2015) |ย http://sptnkne.ws/auDRย 

While Saudi Arabia's oil exports to China have dropped in recent years, Russia is able to mitigate the effect of low oil prices by increasing Chinese exports.

China's turn away fromย Saudi oil inย favor ofย Russian supplies is a result ofย Chinese worries aboutย Riyadh's malign political influence, wrote Austria's Junge Welt newspaper onย Thursday.

Last week China's General Administration ofย Customs (GAC) announced that Russia overtook Saudi Arabia asย China's largest crude oil supplier inย November, the third time this year that Russian supplies have surpassed those fromย Saudi Arabia.

According toย GAC figures, inย November Chinese buyers purchased onย average 949,925 barrels per day (bpd) ofย Russian crude oil inย November, more thanย the 886,950 bpd fromย Saudi Arabia.

Junge Welt linked the development withย a longer-term trend forย Chinese importers toย turn away fromย Saudi oil inย favor ofย Russian crude, asย they seek toย diversify their sources ofย energy.

Saudi oil supply toย China decreased fromย 55 million toย 50 million tons inย 2014, while the supply ofย Russian crude surged 36 percent, toย reach 34 million tons, according toย GAC.

  • "This export success has helped Russia toย soften the effect ofย sanctions. At the same time it is an expression ofย the developing partnership inย trade, energy and other economic areas betweenย Moscow and Beijing," wrote Junge Welt.


As well asย economic partnership, the newspaper pointed toย the countries' shared political interests inย curbing western military expansion, using means such asย coordinated voting atย the UN Security Council toย restrain some excesses.

"Part ofย the overall Russian-Chinese strategy are the joint efforts to 'de-dollarize' international trade," and increase economic stability and independence fromย the US Federal Reserve, the newspaper remarked.

Since 2014 the two countries have settled more trade inย rubles and yuan, and increased the cooperation betweenย their banks inย order toย reduce the use ofย a third currency.

Pic 4. Russian President Vladimir Putin's visit to China. Day Two, 1032376661

Russian President Vladimir Putin's visit to China. Day Two

"The growing loss ofย market share is not only a commercial pain forย the Islamic feudal regime inย Riyadh. Apart fromย oil, its main export is Islamic terrorism, and the Chinese are also concerned aboutย increasing Salafist terrorist violence inย its western province ofย Xinjiang."

  • "The stronger geopolitical cooperation ofย China and Russia inย the Middle East, including combating terrorists sponsored byย Saudi Arabia, again greatly worries the regime inย Riyadh."


The newspaper lists Beijing's support ofย Russia's Syrian policy, its condemnation ofย the Turkish government's support forย terrorism, and the good relations maintained withย Tehran asย some ofย the reasons forย disquiet inย the kingdom.

"From Riyadh's point ofย view this development is becoming stronger, asย Beijing's dependence onย Saudi oil is diminishing." ย 


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