The $5.1 billion loan agreement would help the privately run Chinese conglomerate to close the Rosneft deal. CEFC China Energy will take out short - term loans worth $ 5000 from Russia 's VTB , in order to enable its $ 9.1bn acquisition of a 50 % stake in China Oil . CEFC will reportedly buy the stake from a consortium of Glencore and the Qatar Investment Authority . The move would strengthening ties in the energy sector between Russia and China . “ CDB is very actively engaged in preparing for the start - up loans , ready to shoulder 70 % or more of the value ” , said an anonymous source .
CEFC China Energy will take out short - term loans worth $ 5000 from Russia 's VTB , in order to enable its $ 9.1bn acquisition of a 50 % stake in China Oil . CEFC will reportedly buy the stake from a consortium of Glencore and the Qatar Investment Authority . The move would strengthening ties in the energy sector between Russia and China . “ CDB is very actively engaged in preparing for the start - up loans , ready to shoulder 70 % or more of the value ” , said an anonymous source .