China takes advantage as Putin slashes energy prices
China spent a record $8.3bn (£7.3bn) on Russian energy last month as Beijing continues to snap up the Kremlin’s oil and gas at a discount.
The spend for August was 68pc higher than a year ago and included a record amount of coal, according to Chinese data.
It takes the country’s total energy spend to $44bn in the six months since the start of the war – almost 75pc higher than the same period last year.
While energy prices have surged since Russia’s invasion of Ukraine, China is still buying up higher volumes, sometimes at a discounted price.
Putin has been scrambling to find new buyers for his energy, which is being shunned by much of the rest of the world.
China’s higher spending also came despite generally weaker energy imports this year as a slowing economy and Beijing’s brutal zero-Covid policy hampers demand.
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