China: If it bought oil from Russia for its strategic reserves it would not violate US sanctions

Any effort of hers Of China to replenish strategic stocks oil of buying quantities from Russia would not violate the sanctions imposed by USA in Moscow because of him war in UkraineWhite House officials assured on the presidential plane yesterday Thursday (18/5).

Earlier in the day, Bloomberg News reported that Beijing was in talks with Moscow to buy additional quantities of crude to replenish Chinese strategic reserves.

The United States is leading the way in banning Russian oil imports internationally following the Russian military invasion of Ukraine on February 24.

The possibility of secondary sanctions

The government of US President Joe Biden, however, has not ruled out imposing sanctions on countries buying oil from Russia in the midst of the war in Ukraine, but will move cautiously because of the potential impact of the movement on the global black gold market, said the US Secretary of Energy, Jennifer Granholm.

The United States, the United Kingdom and Canada have imposed embargoes on Russian oil following the Kremlin’s February 24 invasion of Ukraine. But Washington has not imposed so-called secondary sanctions on countries that buy Russian crude – as is the case with countries that buy quantities from Iran.

“The government will make decisions” on the issue, Ms. Granholm said in a statement to reporters in Washington..

US sanctions are usually drawn up by the Treasury and Foreign Ministries, but the Department of Energy is involved and has a say when they have an impact on global oil prices.

Several countries, including India and China, continue to buy oil from Russia, which ultimately contributes to the financing of the war, says Washington..

India, the world’s third-largest importer of crude, boosted oil imports from Russia to about 277,000 barrels a day in April from 66,000 barrels in March. China has also increased its imports of discounted Russian oil.

Asked if secondary sanctions would be imposed, Ms Granholm said this was “not out of the question”..

But the move could boost fuel prices as the Biden government worries about record-breaking records despite its moves, such as the release of record quantities from strategic stocks, in an election year..

According to Granholm, the first package of Western sanctions on Russia reduced global supply by 1.5 million barrels per day and the EU plan to end Russian crude imports could remove another 1.5 million barrels. barrels per day until the end of the year.

“It simply came to our notice then. We do not want our citizens to be affected “ from high costs for the purchase of fuel, stressed the US Secretary of Energy.