Chinese State-Owned Refiners Aren’t Rushing To Buy Russian Spot Contracts

The largest state-held Chinese refiners are not rushing to purchase heavily discounted Russian crude on the spot market, avoiding being singled out as buyers of Moscow’s oil amid tightening Western sanctions on Russia, Reuters reported exclusively on Wednesday, citing six sources familiar with the issue. China, which has grown increasingly closer ties with Russia in the energy sector of late, has not officially condemned Vladimir Putin’s war in Ukraine, but its government has recently appeared cautious about new spot deals. “SOEs…