Rosneft says Chinese oil coys to invest in Arctic projects

China has is now taking its strong relationship with Russia to another level.

This position has now been further buttressed with announcement by Russian state-owned oil company, Rosneft, that Chinese companies are willing to invest in Russian Arctic oil projects.

The decision was announced today by Rosneft’s CEO Igor Sechin who made it known earlier today.

However, it would be interesting to know that Rosneft is under America’s sanctions and cannot do business with ExxonMobil Corporation and Chevron Corporation who have severed relationship with Rosneft.

The Rosneft announcement is coming less than 24 hours after Huawei announced that will be supplying the 5G telecommunication network for Russian mobile carrier, MTS.