Chinese Imports of Russian LNG Rise 28.2%, Oil Imports Up 18.1% in January-August

China's imports of Russian liquefied natural gas (LNG) increased by 28.2% in volume during the January-August period, while imports of Russian oil rose by 18.1% over the same period, according to a report by Russian state news agency TASS.

TASS reported that in value terms, the growth rates differed from the volume increases. LNG supplies grew by 13.2% in value, while oil supplies increased by 33.3% in value, the agency said, citing the same period.

The report did not specify the source of the underlying trade data or provide additional details on the total volumes or values involved. TASS did not immediately elaborate on the reasons behind the differing growth rates between volume and value figures for the two commodities.

Russia and China have deepened energy trade ties in recent years, with Russian oil and gas exports to China forming a significant component of bilateral economic relations amid Western sanctions on Russian energy exports following the conflict in Ukraine.