China's imports of Russian oil increase for 5th straight month

China's imports of Russian crude oil soared by nearly 28 percent in August from a year earlier, marking the fifth consecutive month of increase.

Chinese customs authorities said on Tuesday that the country imported 8.34 million tons of crude oil from Russia last month. The figure is up 27.7 percent from a year before.

China's crude oil imports from Russia decreased in February and March, just after the Russian invasion of Ukraine began.

The Group of Seven nations have been stepping up sanctions against Russia. As a result, Russian oil has become cheaper than that of other suppliers.

Analysts say that prompted Chinese purchasers, including refiners in regional cities, to buy more of it.

Meanwhile, China's imports of Russian liquefied natural gas also surged in August by 36.7 percent from a year earlier to 670,000 tons.

Chinese President Xi Jinping and Russian President Vladimir Putin met on the sidelines of a regional summit last Thursday.

It was their first face-to-face meeting since Russia's invasion of Ukraine. The two leaders stressed their intention to strengthen bilateral ties.