<p>China has leveraged Russia&rsquo;s shift in energy trade focus from Europe to Asia, in the wake of Western sanctions imposed over the invasion of Ukraine. Chinese companies have seized the opportunity presented by discounted prices, increasing purchases of Russian energy. They are promoting the use of Chinese currency for trade settlement and contributing equipment to Russia&rsquo;s Arctic LNG II project. However, Chinese entities have remained cautious and compliance-driven, ensuring they steer clear of violating sanctions.</p>

<p>What is driving the Russia&mdash;China energy relationship? How have energy trade flows and bilateral upstream and midstream oil &amp; gas developments evolved since the invasion of Ukraine?</p>
