After a brief hiatus around the time the EU embargo and the G7 price cap on Russian crude came into force, China’s largest state-held refiners have resumed purchases of Russia’s flagship Urals crude at well below the $60 cap without breaching the sanctions, industry sources told Reuters on Wednesday. State oil refining giants PetroChina and Sinopec are back on the market for Urals and are buying it at deep discounts via trading companies that handle the payments to Russian oil exporters and arrange the shipping and…
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