China, Russia oil trade cooperation mutually beneficial

China rebutted claims that high priced imported oil from Russia made the country the biggest loser from the sharp fall in global oil prices, saying its oil cooperation with Russia was "mutually beneficial."
"China and Russia have conducted smooth cooperation on long-term oil trade in recent years," Xinhua news agency cited Foreign Ministry spokeswoman Hua Chunying as saying at a daily press briefing.
"The cooperation is mutually beneficial and based on the joint efforts of the two governments and relevant enterprises."
Hua made the remarks in response to a question concerning reports saying that Russia exported oil to China in November at a price higher than the global oil price in the same period, which made China the biggest loser in the current round of global oil price turbulence.
"According to the deal signed by both sides, the formula of crude oil trade price between China and Russia is linked and fluctuated with global oil price," Hua said.
"The price of the oil exported from Russian to China the report mentioned does not conform to the fact," she said.
China and Russia are comprehensive strategic partners of coordination, said the spokeswoman, adding that the energy cooperation between two sides is the key area of bilateral substantial cooperation.
The Chinese government supports both sides' enterprises in further expanding and deepening energy cooperation in oil and gas as well as other areas, she said.