China mulls stakes in Russian energy, commodity companies: Report

China is considering buying or increasing stakes in Russian energy and commodities companies, such as gas giant Gazprom and aluminum producer United Co. Rusal International, according to people familiar with the matter. 

Beijing is in talks with its state-owned firms, including China National Petroleum, China Petrochemical, Aluminum Corporation of China and China Minmetals Corporation, on any opportunities for potential investments in Russian companies or assets, the people said. 

Any deal would be to bolster China’s imports as it intensifies its focus on energy and food security — not as a show of support for Russia’s invasion in Ukraine — the people said. 

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