Chinese state-owned companies suspend seaborne purchases of Russian oil
Нафтовий танкер
Chinese state-owned companies have temporarily suspended purchases of Russian oil by sea after the United States imposed sanctions on Rosneft and Lukoil.
This was reported by Reuters, citing several sources in trade circles.
After the imposition of restrictions by the US side, Chinese companies PetroChina, Sinopec, CNOOC, and Zhenhua Oil decided to refrain from agreements with seaborne supplies of Russian oil, at least in the short term, due to the risks of being subject to sanctions.
At the same time, India — the main buyer of Russian oil delivered by sea — is also preparing to sharply reduce imports of raw materials from Moscow in order to comply with US requirements imposed in response to Russia’s invasion of Ukraine.
According to Vortexa Analytics, Chinese state-owned companies bought less than 250,000 barrels of Russian oil per day in the first nine months of 2025, compared to Energy Aspects’ estimate of about 500,000 barrels. Overall, China imports about 1.4 million barrels of Russian oil per day by sea, but most of that comes from independent refineries, known as teapots .
Last week, Sinopec’s subsidiary Unipec halted purchases of Russian oil after the UK added Rosneft, Lukoil, a number of vessels from the “shadow fleet” and several Chinese companies, including a major oil refinery, to its sanctions list.
Despite this, some independent Chinese refiners, according to traders, plan to temporarily suspend purchases only to assess the effects of the new restrictions, and in the future will seek to restore supplies.
In addition to sea routes, China receives approximately 900,000 barrels of Russian oil per day via pipeline, and these supplies, traders note, remain stable for now.
Analysts believe that reduced purchases by China and India, Moscow’s two largest customers, will hit Russia’s oil revenues while simultaneously pushing up prices for oil from the Middle East, Africa and Latin America, which are not subject to sanctions.
As a reminder, the Donald Trump administration has announced the first major package of financial restrictions aimed at the Russian economy . This move is part of Washington’s new strategy, the aim of which is to force the Kremlin to end its war against Ukraine.
At the same time, the United States remains open to negotiations with Russia, even after imposing sanctions against two leading Russian oil companies.
It was also previously reported that US President Donald Trump said that during his upcoming meeting with Chinese President Xi Jinping he intends to raise the topic of Russia’s war against Ukraine. According to him, he hopes to find ways to end the conflict, in particular by discussing energy issues and other possible aspects.
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