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to import soybean meal from Russia
has allowed the import of soybean meal, sugar beet pulp, rapeseed meal and sunflower meal from Russia, the General Administration of Customs said in a statement on its website on Thursday.
and Russia vow to ‘deepen trade in soybeans’ after tariff war kills US crop exports Russia’s exports to were less than 10 per cent of the decrease in US soybean sales to
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- Why did China's Crude oil imports and refineries decrease in 2023?
- Both crude oil imports and refinery runs decreased in China from record levels in 2023, when the country imported 11.3 million b/d of crude oil and processed 14.8 million b/d. Net decreases in the consumption of transportation fuel (gasoline, diesel, and jet fuel) last year meant China’s refineries processed less crude oil.
- How did China's oil demand change in 2024?
- Slower oil demand growth in 2024 led to less crude oil processed by China’s refineries and fewer crude oil imports compared with the record high set in 2023. China, the world’s largest importer of crude oil, received 11.1 million barrels per day (b/d) in 2024, down from 11.3 million b/d in 2023.
- Where does China buy crude oil?
- China’s refiners purchase crude oil from dozens of countries, with Russia, Saudi Arabia, Iraq, Oman, and Malaysia being the largest sources. Imports from Malaysia increased significantly last year to 1.4 million b/d, which is more than Malaysia’s domestic crude oil production of around 0.6 million b/d.
- Why did China increase imports from Russia?
- China increased imports from Russia after the Group of Seven (G7) country import bans and sanctions limited Russia’s ability to sell crude oil after its full-scale invasion of Ukraine in 2022. These actions prompted Russia to sell some of its crude oil at discounted prices, making it more attractive to certain buyers.
- Why did China increase imports from Russia in 2024?
- Imports from Russia increased in 2024 for the third consecutive year and averaged 2.2 million b/d, 1% more than in 2023. China increased imports from Russia after the Group of Seven (G7) country import bans and sanctions limited Russia’s ability to sell crude oil after its full-scale invasion of Ukraine in 2022.
- How will sanctions affect oil refiners in China?
- Because of potential disruptions from these actions, refiners in China may reduce purchases from Russia and replace those barrels with others from crude oil exporting countries not subject to sanctions, such as Brazil, Canada, the United States, or countries in the Middle East.
