- Chinese national oil companies Sinopec, PetroChina, CNOOC and Zhenhua Oil will refrain from dealing in seaborne Russian oil
- Decision is the effect of concerns around Western sanctions on Russia
- Chinese national oil companies Sinopec, PetroChina, CNOOC and Zhenhua Oil will refrain from dealing in seaborne Russian oil
- Decision is the effect of concerns around Western sanctions on Russia
Futures on oil (OIL) gain more tha 3% today, extending gains after the news from China. Chinese national oil companies PetroChina, Sinopec, CNOOC, and Zhenhua Oil will refrain from dealing in seaborne Russian oil at least in the short-term due to concern over sanctions.
Source: xStation5
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