Teapots and ghosts: the economics behind China’s Russian oil imports (Economist Intelligence Unit)

China’s energy imports from Russia have increased significantly since Russia’s invasion of Ukraine and the West’s imposition of sanctions on Russian companies and most of the country’s energy exports. China’s purchases of Russian hydrocarbons are often viewed through that lens, and thus as a tacit show of support for Russia. However a closer examination of trade patterns suggests that the reality is more nuanced: economic factors, along with geopolitics, are driving China’s buying behaviour.

The economics behind China’s Russian oil imports – Economist Intelligence Unit