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China Crude Imports From Russia Rise to Record High in May

RUSSIA
  • The EU is ready to propose a financial aid package of around EUR50bln to support Ukraine as the country embarks on a critical counteroffensive, Bloomberg report. The proposal from the European Commission will help finance the Ukrainian government’s current expenditures and pay for urgent reconstruction priorities, according to people familiar with the plan.
  • China’s crude imports from Russia rose to a record 9.71m tons in May vs 7.12m tons in April, according to customs data released this morning.
  • Russian Foreign Minister Sergey Lavrov will take part in a meeting of the Collective Security Treaty Organization’s (CSTO) Council of Foreign Ministers in the Belarusian capital today. According to the Foreign Ministry, participants in the meeting will assess multilateral cooperation within the CSTO and exchange views on the prospects for future interaction. Members include Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.
  • There are no notable economic releases scheduled today.
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