China says it will maintain 'mutually beneficial' energy relations with Russia

China has upped its purchases of Russia's Urals oil blends this year, which now trades at a steep discount to Brent, the global benchmark.

The Chinese foreign ministry said on Monday that Beijing will continue its energy cooperation with Russia on the basis of respect and mutual benefit, following the European Union's agreement to impose a price cap on Russia's oil exports, Russia's RIA news agency reported.

Chinese President Xi Jinping is seen. (Reuters)

China has upped its purchases of Russia's Urals oil blends this year, which now trades at a steep discount to Brent, the global benchmark.