China’s Spending on Russian Energy Nears $60 Billion Since War
- Imports of crude, natural gas and coal all climbed last month
- Purchases from Russia of refined copper and nickel slumped
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China continued to boost Russian energy imports last month, as purchases of natural gas, coal, crude oil and oil products increased to nearly $60 billion since the invasion of Ukraine, from about $35 billion a year ago.
Russian sales grew despite a broad weakening in China’s imports in October. A slowing economy constrained shipments of items from gas to copper, although crude purchases were a bright spot as refiners responded to the prospect of a surge in fuel exports after Beijing issued its biggest quota this year.