Russia Strengthens Oil and LNG Ties with China Amid Sanctions

Russia is seeking to increase oil exports to China while deepening cooperation for LNG supplies despite Western sanctions. China's import of Russian oil and LNG is increasing, solidifying their energy partnership. Sanctions on Russian oil producers have met resistance but are unlikely to significantly impact Russia's economy.

Russia is actively seeking to boost its oil exports to China and enhance cooperation in the liquefied natural gas (LNG) sector, according to Deputy Prime Minister Alexander Novak. This comes as China and India have emerged as Russia's primary oil buyers following the onset of the Ukraine conflict.

In a bid to counteract U.S. sanctions targeting Russia's major oil firms, Novak emphasized the country's strategic importance to the global energy market. Russian President Vladimir Putin labeled the sanctions as unfriendly acts unlikely to affect the country's economic stability.

Despite external pressures, Russia continues to explore expansion opportunities with China. Intergovernmental agreements may extend oil supplies via Kazakhstan until 2033, while China received its initial LNG shipment from a previously sanctioned Russian project. The energy partnership between the countries remains robust, underscored by joint projects despite geopolitical challenges.

(With inputs from agencies.)