China Wants To Know How Much Russian Oil Its Independent Refiners Are Buying

The Chinese Ministry of Commerce has recently met with representatives of around ten independent refiners to inquire about how much Russian crude oil the private refiners are importing and at what prices, sources familiar with the matter told Reuters on Friday. China is buying increased volumes of Russian crude as Moscow pivots its sales to Asian markets after the Western embargoes and price cap on its crude oil and refined petroleum products. The independent refiners, often referred to as the teapots, are importing a large portion of the Russian…