China Benefits From Russia’s Energy Trade With The Arctic
China is taking advantage of Russia’s shift to the East and continues to expand its energy imports, particularly liquefied natural gas (LNG) and crude oil from the Arctic. In 2022, Russia surpassed Saudi Arabia as China’s largest supplier of oil, with China spending $58 billion on oil imports from Russia. Additionally, China purchased $8 billion of LNG primarily from the Yamal LNG plant in the Arctic Continue…
BRICS is an informal group of states comprising the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa. The growing economic might of BRICS countries, their significance as one of the main driving forces of global economic development, their substantial population and abundant natural resources form the foundation of their influence on the international scene.