China trade with Russia jumped last month |nigeria news today headlines update today

China trade with Russia jumped last month

Business & Economy World

China’s trade with Russia rose sharply last month as Beijing continues to criticise Western sanctions on Moscow over its invasion of Ukraine.

In dollar terms, overall trade with Russia increased 12.76% in March to $11.67bn (£9bn), Chinese customs data shows.

That’s as it jumped by 30.45% in the first quarter from the same period last year.

Gains in total trade, which includes the value of exports and imports, were in line with previous increases.

China trade with Russia jumped last month |nigeria news today headlines update today
China trade with Russia jumped last month |nigeria news today headlines update today

Russia is a major source of oil, gas, coal and agricultural commodities for China.

Beijing has so far refused to call Russia’s action an invasion and has repeatedly criticised what it says are illegal Western sanctions against Moscow.

Before the war started, China and Russia declared a “no-limits” strategic partnership.

READ ALSO Kyiv arrests Ukraine opposition leader and Russia ally victor medvechuk

As sanctions against Russia mount, China could offset some of Moscow’s pain by buying more goods.

But analysts say they have yet to see any major indication that China is violating Western sanctions on Russia.

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