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Russia to supply gas to China almost 30% cheaper than to EU - Bloomberg

Russia to supply gas to China almost 30% cheaper than to EU - Bloomberg Photo: Putin and Xi Jinping (Getty Images)
Author: Daryna Vialko

Russia has focused on increasing natural gas exports to China. The Kremlin supplies gas to China at a reduced price, as reported by Bloomberg.

According to preliminary data, the gas price for China will be 28% lower than for the rest of Russia's European customers until 2027.

Such a price is caused by Russia's desire to strengthen energy ties with China. However, Russia has limited financial resources, which makes the process difficult and forces Russia to look for alternative ways.

It is also interesting that Russia was seeking to enter the Asian gas market even before the full-scale invasion of Ukraine. The Asian part was supposed to replace European customers, who would likely reduce their gas consumption over time.

Cooperation between China and Russia

Recently, US Secretary of State Antony Blinken criticized China's support for the Russian military industry. He stated that Beijing has made a major contribution to Moscow's war against Ukraine by supplying critical components for weapons, the agency writes.

In particular, China has been diplomatically and economically supporting Russia since the beginning of the invasion of Ukraine in February 2022. During this time, relations between the two countries have grown sharply, and Moscow has been circumventing Western sanctions with the help of Beijing.