torsdag 10. mars 2022

China to Exploit West's Ban on Russian Energy by Buying up Cheap Oil and Gas—Report

China could be the first to capitalize on Russia's untouchable energy and raw materials following the U.S. decision on Tuesday to ban the import of oil, natural gas and coal from the country. The Chinese government is in discussions with its state-owned firms about potentially buying up underpriced energy and commodities, or increasing their stakes in Russian companies such as gas giant Gazprom or aluminum producer Rusal, Bloomberg Newsreported. They are the respectively the largest publicly listed natural gas company in the world and the second-largest aluminum trader by output.

Officials in Beijing have reportedly spoken with representatives of the China National Petroleum Corporation, China Petroleum & Chemical Corporation, Aluminum Corporation of China and China Minmetals Corporation about investment opportunities in Russian companies, although nothing has been finalized.