TIME reports, "China is now the largest importer of crude oil in the world. In April, it surpassed the U.S., which has traditionally held the slot, with imports of 7.4 million barrels per day (bpd) or 200,000 more than the U.S...The news comes as a surprise because the Chinese economy has been slowing and just this weekend, in an effort to stimulate growth, the People's Bank of China cut interest rates for the third time in 6 months. Over the next few months, the U.S. and China may be in and out of the top spot, but because American imports dropped by about 3 million bpd in the last decade (thanks in large part to shale extractions) and because China's purchases have boosted seven-fold, the Chinese should be the top crude oil importer on a long term basis."
"As Russia's relationship with the United States and its European allies grows worse, its ties to China have never been closer. On the eve of the parade last Friday, the two countries announced 32 separate bilateral agreements, including a non-aggression pledge in cyber warfare. The deals complement a $400 billion deal made last May, when Russia agreed to ship 38 billion cubic meters of natural gas each year between 2018 and 2048 to China. And next week, Russian and Chinese naval vessels will conduct live drills in the eastern Mediterranean Sea," writes The Atlantic.
According to Bloomberg, "Australia urged China not to create a proprietary air zone over the disputed South China Sea, with defusing tensions in the waters a priority... China, which is creating artificial islands in the busy shipping and fishing area that's also claimed by countries like the Philippines and Vietnam, said again this month it reserves the right to establish an ADIZ (Air Defense Identification Zone). It sparked a rebuke from Australia, Japan and the U.S. when it set up a similar zone in late 2013 over disputed islands in the adjacent East China Sea."