Russian Deputy Foreign Minister: Russia will supply as much oil as China needs
China can buy as much oil as it needs, and Russia is willing to provide energy resources to its neighboring country, Andrei Rudenko, Russian Deputy Foreign Minister, expressed this view, according to the words cited by Rossiyskaya Gazeta.
He explained that if they need to purchase oil, China will do so naturally. They will prepare to supply them with as much oil as they need.
In the context of the general decline in world oil prices and securities markets due to the tariff measures implemented by US President Trump, the export oil price of Russia has dropped below the benchmark price set in the 2025 federal budget (69.7 USD per barrel). These prices have also fallen below the price threshold specified in the budget rules, under which budget revenues from oil are transferred to the National Wealth Fund. The main export oil type - Urals crude oil price once dropped to 47.54 USD per barrel, while the high-quality oil type - ESPO (Eastern Siberia - Pacific Ocean) Russian blended crude oil price dropped to 53.19 USD per barrel.
Meanwhile, at the beginning of April 2025, the share of Western tankers in Russian oil transportation rose to 43% of the quantity loaded or booked for loading at Baltic and Black Sea ports this month. This trend is attributed to the fall in Russian crude oil prices. If the oil price exceeds 60 USD per barrel, the Group of Seven (G7) prohibits Western companies from transporting and insuring ships carrying Russian oil. However, recently the price of Russian crude oil has fallen below this price threshold.
Source: https://www.toutiao.com/article/1829270382880201/
Disclaimer: This article only represents the views of the author.