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Russia And China Ink Huge Oil Deals As Ukraine Tensions Soar — Simon Watkins

Summary:
Moscow’s state-owned oil giant, Rosneft, signed a US billion 10-year deal to supply the China National Petroleum Corporation (CNPC) with 100 million metric tonnes of oil.This increase in crude oil delivery volumes and mechanisms to China is part of a broad-based strategy to circumvent to as great a degree as possible the effects of international sanctions against Russia.This multi-level cooperation strategy between Russia and China provides financing into Russia from China, regardless of possible sanctions from the U.S. and its alliesOilpriceRussia And China Ink Huge Oil Deals As Ukraine Tensions SoarSimon Watkins

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  • Moscow’s state-owned oil giant, Rosneft, signed a US$80 billion 10-year deal to supply the China National Petroleum Corporation (CNPC) with 100 million metric tonnes of oil.
  • This increase in crude oil delivery volumes and mechanisms to China is part of a broad-based strategy to circumvent to as great a degree as possible the effects of international sanctions against Russia.
  • This multi-level cooperation strategy between Russia and China provides financing into Russia from China, regardless of possible sanctions from the U.S. and its allies
Oilprice
Simon Watkins

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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