RTRS-Commerce Min Meets w/Refiners On Russia Oil Trade

MNI (London) - Reuters reporting that according to several sources China's Commerce Ministry has met with a number of independent oil refiners to talk about their business dealings with Russia. Reuters reports that "The conversations come as parliament prepares for its annual congress next month and a possible state visit to Russia by Chinese President Xi Jinping. Also, China's top diplomat Wang Yi will visit Russia during his current trip in Europe, the foreign ministry has said."

• Reuters claims that according to its sources, the Commerce Ministry talked to ~10 independent refineries to ask about the volumes of crude oil they were importing and the prices they were paying. This comes amid Western price caps, sanctions, and embargoes on Russian oil and oil products.
• MNI's Commodities team has published its most recent analysis on the state of play with regards the impact of sanctions on Russia's crude exports (link here: https://marketnews.com/mni-commodity-analysis-west...).
• There remains notable focus in the West as to China's economic interactions with Russia. Since the invasion of Ukraine, Russia has talked up relations with China, which has been reciprocated somewhat less enthusiastically by Beijing. While unconfirmed, any visit to Russia from President Xi would be seen as a significant sign of closer links developing between the two nations.