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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA
- We have seen that Russian oil purchases from China and India have surge in 2022 following Western import bans, with China importing 800K bpd of Russian petroleum (via sea) in May, up 40% from January.
- This chart shows the significant surge in China imports from Russia this year, rising to 10.2bn USD in May (vs. 6bn in 2021), up from 7.6bn USD in January.
- On the other hand, China exports to Russia have remained steady at around 4bn USD in recent months.
- Russian oil paid in CNY and INR is about to increase drastically in the medium term with the two giants increasing their energy trade with Russia.
- As reminder, India recently proposed to settle trade with Russia in rupees.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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