China's reliance on Russian oil has soared with more than 1 in 5 barrels of imported crude now coming from Moscow

According to a report from the Energy Information Administration, China has increased its dependence on Russian crude oil.

According to the report, Russian oil was as high as 21% of Beijing's total crude imports in August. Russian crude made up 16% of China's total crude oil imports, up from 8% in 2011.

Despite the war in Ukraine, Beijing is willing to engage with the Kremlin. There is a line between condemning the invasion without condemning Russia and calling for a peaceful solution to the war.

In June, China's overall crude imports fell to the lowest level in more than a year. During the month of July, imports remained at that level.

The report said that China is processing its own crude at the lowest level since 2020 due to an increase in COVID-19 cases and the fact that demand is low.