Photo: Lucy Nicholson / Reuters
The United States has suspended deliveries to China of crude oil on the background of a trade war between the two countries. This was stated by the President of the shipping company China Merchants Energy Shipping (CMES) CE Chunlin on the sidelines of the annual industry summit in Hong Kong, reports Reuters.
“We are one of the major transporters of crude oil from the US to China. To trade war things were going well, but now everything has stopped,” he said, adding that it would reflect badly on the shipping business.
The Agency cites statistics according to which oil imports from the U.S. fell from 9.7 million barrels in August to 0.6 in September. Since the beginning of year the volume of deliveries fluctuated, but never dropped below 4.4 million barrels.
With the beginning of 2018, between the United States and China trade war, which is expressed in the mutual increase of duties on various groups of goods. Trump has accused Beijing of unfair play and complained of too much deficit in bilateral trade balance. He later said about the win over China, who will not be able to overtake the US economy. According to estimates by Bloomberg, it is expected that due to losses in the trade war at the end of the year, China’s GDP will grow 6.6 percent, that will be the lowest value since 1990.
Video, photo All from Russia.