24.10.2025, Moscow.
China will not abandon purchasing Russian oil despite increased sanctions pressure, Rossa Primavera News Agency Economical Desk wrote on October 23.
On October 23, Reuters reported that Chinese state-owned companies had stopped purchasing Russian oil after the United States imposed sanctions on two major Russian oil giants – Rosneft and Lukoil. According to the agency, PetroChina, Sinopec, CNOOC, and Zhenhua Oil have allegedly suspended purchases of Russian oil, at least in the short term.
Reuters noted that a sharp drop in oil demand from China and India — the world’s two largest consumers — could pressure Moscow’s revenues and force leading global importers to seek alternative supply sources, which in turn could trigger a surge in global prices.
However, the report that Chinese state companies have temporarily stopped buying Russian oil, if true, does not mean that China is “turning away” from Russia. First and foremost, this concerns only maritime deliveries. Second, it applies only to state-owned companies. China’s independent refineries continue to actively purchase Russian oil — maritime shipments to China are estimated at about 1.4 million barrels per day, while state-owned companies account for roughly 250,000–500,000 barrels per day.
Moreover, this is not the first time purchases have been paused. For instance, in March-April 2025, Unipec (subsidiary of Sinopec) temporarily suspended purchases of the Russian ESPO blend after US sanctions were imposed on Russian companies in January, but later resumed them. When Chinese state firms halt deliveries, they are usually waiting for top-level government guidance while assessing sanction risks. The current suspension is likely only a pause, not a permanent halt.
It is also important to consider the broader strategic context. China and Russia traditionally maintain a strategic partnership, and Beijing has no interest in undermining its long-term energy ties with Moscow. Completely abandoning Russian oil would not benefit China. First, Russian oil often comes under favorable pricing conditions, faces less competition, has logistical advantages, and helps diversify energy sources. Second, Chinese refineries are optimized for certain Russian grades, and a sharp withdrawal would increase costs, undermine energy security, and heighten dependence on Middle Eastern or African suppliers via more expensive routes.
Thus, oil supplies are expected to resume in the very near future despite the new US sanctions.
Source: Rossa Primavera News Agency
