VLADIVOSTOK, September 4. /TASS/. China has achieved over $27 billion in economic savings due to the higher efficiency of Russian crude imports, said Igor Sechin, CEO of Rosneft and Executive Secretary of the Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Safety.

"Thanks to the greater cost efficiency of purchasing Russian crude compared to Middle Eastern alternatives, the cumulative economic benefit to China since 2022 amounts to an estimated $27 billion," Sechin said at the Russia-China Energy Business Forum, held on the sidelines of the Eastern Economic Forum (EEF).

According to him, the positions held by Russia and China in the global economy and energy sector provide a solid basis for bilateral synergy. A key driver is Russia's unique resource base, as the country possesses the world's largest combined oil and gas reserves – approximately 60 billion tonnes of oil equivalent, or 14% of the global total, he noted. Russia also holds the second-largest proven coal reserves worldwide.

The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of the Far Eastern Federal University (FEFU). The main theme of the EEF in 2026 is "The Far East: Development for the Benefit of People." The event is organized by the Roscongress Foundation with the support of the Russian Government. TASS is the general media partner.