Benefits of the Sino-Russian Oil Deal Flow Both Ways

Russia gets a huge amount of cash and China gains a long-term supply, meaning the two countries' recent agreement was a win-win

Russian President Vladimir Putin did not exaggerate when he announced on June 20 that China and Russia were close to an unprecedented contract involving millions of tons of oil and worth over US$ 60 billion.

China National Petroleum Corp. (CNPC), the country's largest oil producer, revealed more detailed figures of its deal with Russian counterpart Rosneft four days later; the Russian side would supply China with 40 million tons of oil a year for the next 25 years.

Source: http://rss.feedsportal.com/c/33257/f/605613/p/1/s/57c899ba/l/0Lenglish0Bcaixin0N0C20A130E0A70E120C10A0A5552110Bhtml/story01.htm

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