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A Local Culinary Adventure: inspired by Halifax's Seaport Market | SaltWire #cooking #cookingtipsSINGAPORE - China has reaped savings this year of nearly $10 billion through record purchases of oil from countries under Western sanctions, according to Reuters' calculations based on data from traders and shiptrackers.
China's purchases are also a revenue lifeline for Moscow, Tehran and Caracas, whose economies are otherwise curtailed by Western sanctions and a decline in investment. China's Foreign Ministry did not respond to specific questions sent by Reuters. Instead, in a statement, it repeated its stance that Beijing opposes unilateral sanctions and China's normal trade deserves respect and protection.From January to September, Russia supplied 1.3 million bpd of seaborne crude, based on the average of data supplied by Vortexa and Kpler. China also imported about 800,000 bpd of ESPO crude via pipeline, according to Chinese trading sources.
For imports of Venezuelan oil, mostly heavy grade Merey, China saved an average of $10 a barrel versus comparable Colombian Castilla crude, the calculations based on the trader data showed. The country saved roughly $15 a barrel buying Iranian crude versus Oman oil.
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