(Sharecast News) - China is considering buying or increasing stakes in Gazprom, Rusal and other Russian energy and commodities companies, according to a report.
The Chinese government is in talks with state-owned companies such as China National Petroleum and Sinopec about deals to strengthen China's supplies of energy and food, Bloomberg said. Some talks between Chinese and Russian energy groups have started, the report said.
Potential investments do not indicate support from China for Russia's invasion of Ukraine, sources told Bloomberg. But the war has made Beijing worried about the impact of soaring prices for energy, metals and food.
China has continued normal trade with Russia as western countries such as BP and Shell have pulled out. Aluminum Corp of China and China Minmetals are also in talks with Beijing about Russian investments, Bloomberg reported.