Sinopec Resumes Russian Crude Oil Purchases After Pause

Chinese state-controlled refining giant Sinopec has returned to buying Russian crude oil after halting purchases last month due to concerns about the U.S. sanctions on Russia’s oil trade and shadow tanker fleet imposed in January, trade sources told Reuters on Wednesday.  Sinopec, the biggest refiner in Asia by processing capacity, has bought its first ESPO blend from Russia for May loading since the February loading plans, after refraining from buying the grade for loading in March and April until it assesses the risk from the U.S.…