https://sputnikglobe.com/20220329/chinas-foreign-ministry-says-oil-companies-not-urged-to-review-russia-business-1094291305.html
Chinese Foreign Ministry Says Oil Companies Not Urged to Review Russia Business
Chinese Foreign Ministry Says Oil Companies Not Urged to Review Russia Business
Sputnik International
The Chinese Foreign Ministry never advised the country's three largest oil and gas corporations to reconsider their activities in Russia and business relations with Russian partners, Chinese foreign ministry spokesman Wang Wenbin said on Tuesday.
2022-03-29T11:38+0000
2022-03-29T11:38+0000
2022-03-29T11:38+0000
russia
china
oil
china national petroleum corporation (cnpc)
sinopec
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Reuters reported earlier this month that the Chinese Foreign Ministry called on Sinopec, China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) to review their business ties with Russian partners and local operations and urged them not to make rash moves in buying Russian assets.On 24 February, Russia began a military operation in Ukraine responding to calls for help from the breakaway republics of Donetsk and Lugansk. The West responded by imposing comprehensive sanctions against Russia, prompting many foreign companies to suspend operations in the country. The Western sanctions has had a massive impact on food and energy prices and supplies worldwide.Chinese President Xi Jingping during a conversation with his US counterpart Joe Biden said that further escalation of sanctions will lead to serious crises in the world economy, trade, finance, energy and food.Earlier this month, Reuters reported, citing sources, that China's state-run energy giant Sinopec Group has suspended talks with Sibur, Russia’s largest petrochemical producer, on investing up to $500 million in a new plant in Russia. The sources said that the Chinese side allegedly took a break in the negotiation process after Gennady Timchenko, a member of Sibur's board of directors, fell under Western sanctions. Sibur denies the information, the company told Sputnik.
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china's foreign ministry says oil companies not urged to review russia business
china's foreign ministry says oil companies not urged to review russia business
Chinese Foreign Ministry Says Oil Companies Not Urged to Review Russia Business
BEIJING (Sputnik) - The Chinese Foreign Ministry never advised the country's three largest oil and gas corporations to reconsider their activities in Russia and business relations with Russian partners, Chinese foreign ministry spokesman Wang Wenbin said on Tuesday.
Reuters reported earlier this month that the Chinese Foreign Ministry called on Sinopec, China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) to
review their business ties with Russian partners and local operations and urged them not to make rash moves in buying Russian assets.
"I am not aware of the situation you mentioned. I would like to reiterate that China and Russia have always developed normal trade and economic cooperation based on mutual respect, equality and mutual benefit", Wang told a briefing.
On 24 February, Russia began a military operation in Ukraine responding to calls for help from the breakaway republics of Donetsk and Lugansk. The West responded by imposing comprehensive sanctions against Russia, prompting many foreign companies to suspend operations in the country. The Western sanctions has had a massive impact on food and energy prices and supplies worldwide.
Chinese President Xi Jingping during a conversation with his US counterpart Joe Biden said that further escalation of sanctions will lead to serious crises in the world economy, trade, finance, energy and food.
Earlier this month, Reuters reported, citing sources, that China's state-run energy giant Sinopec Group has
suspended talks with Sibur, Russia’s largest petrochemical producer, on investing up to $500 million in a new plant in Russia. The sources said that the Chinese side allegedly took a break in the negotiation process after Gennady Timchenko, a member of Sibur's board of directors, fell under Western sanctions. Sibur denies the information, the company told Sputnik.
