Yep, that diagram was just a quick flowchart so not accurate. But the method of wealth transfer is. Has been plenty of news articles relating to China and Russian gas since March and now running full tilt.
Here is one such article published a few days ago.
https://www.*.in/stock-market/news/...the-end-of-this-year/articleshow/94080030.cms
China continues to ramp up imports of Russian natural gas, recently securing a deal for supplies from the Sakhalin 2 operator at a 50% discount until the end of the year, according to a report from Bloomberg.
China imported 29% more Russian liquefied natural gasin the first half of the year than in 2021, and imports soared to their highest level since 2020 in August, according to Bloomberg data. That's cemented its spot as one of Russia's largest energy customers since the invasion of Ukraine, snapping up crude and natural gas at hefty discounts while the West attempts to pull back from the consumption of Russian energy commodities.
China's appetite for Russian energy isn't showing signs of ebbing, as the country has recently struck a deal with Russia's Sakhalin-2 LNG plant to purchase natural gas supplies at half the current spot price, traders familiar with the matter told Bloomberg on Wednesday.
So anyone talking about a Chinese recession is mute. Matters not the slowdown in the Chinese housing market since the start of the year. The Chinese Fuel industry is mostly State Owned Enterprise companies so that 50% price difference in Russian Gas and fuel costs is mostly flowing directly into CCP coffers. Latest CCP directive is to restart all building projects & those with liquidity issues to be taken over by the government. See
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Any recession talk is basically centered in western countries and at this stage by their own doing. All these EU sanctions against Russia are only hurting the EU.
Another point to bring up here would be about the Saudi's. How would the world be reacting if the Saudi's were buying Russian gas at 50% discount and reselling to Europe at full price? Does anyone here think that would fly well in Brussels and London? Or would the EU just shut up and continue to turn a blind eye like they have been to China since February? A strange world we live in these days.
(20min delay)