4 November 2025: 16:30 GMT
If you push your rival away, don’t complain if he makes friend with your enemy. After the US spanked Russia with sanctions, President Xi rolled out the red carpet for Russia’s PM Mikhail Mishustin in Beijing, doubling down on the “no-limits” partnership. They lambasted “illegal” Western sanctions and are busy getting cosy. If you hear from the market that China will or has already stopped purchasing Russian crude, think again! There are rumours knocking around that big Chinese refiners are trimming purchases of Russian crude but this united front looks rather contradictory!
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