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  • By The Financial District

China Trade With Russia Rises To Record $190-B

China's trade with Russia hit a record 1.28 trillion yuan ($190 billion) last year, the government said, even as Russia's imports from the European Union (EU) fell on sanctions related to Moscow's invasion of Ukraine, Reuters reported.


Photo Insert: Traders said the boost in gas imports was mainly due to a rise in deliveries from the Irkutsk Oil Co. (INK) after it launched its Ust-Kut gas processing plant in Siberia.



China's 2022 exports to and imports from Russia accounted for only 3% of China's total trade, Lyu Daliang, spokesperson of the General Administration of Customs (GAC), told a news briefing.


Imports from Russia rose 8.3%, slowing from a 28.5% gain in November, as a surge in COVID-19 infections following China's abrupt end to severe restrictions weighed on domestic demand.



China's trade with Russia slowed sharply in dollar terms in December, with exports up 8.3% from the same month last year, down from November's 17.9% rise, according to Reuters calculations based on Friday's Chinese customs data, Liangping Gao, Joe Cash, Shen Yan, and Chen Aizhu reported for Reuters.


Traders said the boost in gas imports was mainly due to a rise in deliveries from the Irkutsk Oil Co. (INK) after it launched its Ust-Kut gas processing plant in Siberia. Exports to China rose to 147,100 tons from 62,600 tons a year earlier.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

LPG, or propane and butane, is used as fuel for cars and heating. Almost all Russia's LPG exports to China go by rail. Other large LPG exporters, such as Gazprom, Rosneft, Lukoil, Tatneft, and Sibur have redirected their supplies away from Ukraine and Europe last year, Damir Khalmetov and Vladimir Soldatkin reported for Reuters.



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