Rosneft Plans $30B Oil-for-Loans Deal with China

Reuters reported that Rosneft is planning to loan up to $30 billion from China in exchange for significantly higher oil supplies, which could make Beijing the biggest consumer of Russian oil.

As quoted in the market news:

Four industry sources familiar with the situation told Reuters that Rosneft was in talks with Chinese state firm CNPC about the borrowing, which would echo a $25 billion deal the two companies clinched last decade.

Click here to read the full Reuters report.