China’s state oil giants have suspended purchases of seaborne Russian crude following new US sanctions against Moscow oil producers Rosneft and Lukoil, multiple business sources told Reuters on Thursday.
The move by PetroChina, Sinopec, CNOOC and Zhenhua Oil marks a major shift in one of Russia’s biggest export markets and could further weigh on Moscow’s oil revenues while tightening global supplies.
The four companies did not immediately respond, Reuters reported.
Income tension for Moscow
The suspension is expected to cause a sharp drop in oil demand from Russian customers, forcing Moscow to look for alternative buyers and potentially raising international oil prices.
While China imports roughly 1.4 million barrels per day (bpd) of Russian oil by sea, most of it is typically bought by independent refiners, commonly referred to as “teapots.”
Data from Vortex Analytics estimated that Chinese state firms bought less than 250,000 barrels per day of Russian crude in the first nine months of 2025, while Energy Aspects put the figure at around 500,000 barrels per day, Reuters reported.
Unipec stops buying from Sinopec
Unipec, the trading arm of Sinopec, halted purchases of Russian oil last week after the UK imposed sanctions on Rosneft, Lukoil and several shadow fleet vessels and Chinese entities, including a major Chinese refinery, two sources said.
Most Russian crude from Rosneft and Lukoil is sold to China through intermediaries rather than direct contracts, according to traders.
Independent refiners are reconsidering
Independent refiners in China are expected to temporarily suspend purchases to assess the full impact of the sanctions. However, several traders told the newspaper that they are likely to resume buying Russian oil once the compliance risks are better understood.
Before the sanctions were announced, offers for November ESPO crude fell to a premium of $1 a barrel to ICE Brent from $1.70 earlier in October, according to market data.
Pipeline imports unaffected
China also imports about 900,000 barrels a day of Russian oil by pipeline, all of which goes to PetroChina. Several traders said those pipeline flows are unlikely to be affected by the sanctions because they are covered by long-standing government agreements.
