China wary of closer Russia energy ties, ex-Cnooc economist says: "China is wary of expanding energy investments in Russia because closer ties with the Kremlin could harm its relations with the U.S., according to a former researcher at China’s biggest offshore explorer.
The government in Beijing isn’t prepared to jeopardize economic links with the U.S., said Chen Wei Dong, who resigned as chief researcher for China National Offshore Oil Corp.’s Energy Economics Institute in May. The U.S. is viewed as a “global” partner while Russian ties are regional, he said.
Russia is turning to Asian markets after President Vladimir Putin’s annexation of Crimea led the U.S. and Europe to impose sanctions, including oil and banking restrictions. Russia’s biggest energy exporters are targeting China, the world’s largest consumer, yet progress on supply deals has stalled after crude and gas prices declined."
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