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.
July 4, 2017. From left: Russian President Vladimir Putin meets with People's Republic of China President Xi Jinping in Moscow.
© Sputnik / Michael Klimentyev
/ 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.