Following U.S. sanctions on Russia’s two major oil companies, Rosneft and Lukoil, China’s state-owned oil companies have temporarily suspended their purchases of Russian crude.
Multiple sources confirmed the information to Reuters on Thursday (October 23).
The move comes at a time when India, another major buyer of Russian oil, has also decided to reduce its imports to align with the latest U.S. sanctions against Moscow over the Ukraine conflict.
Analysts warn that a sudden drop in oil demand from Russia’s two largest buyers—China and India—could significantly impact Moscow’s revenue. Meanwhile, major importing nations may be forced to seek alternative energy sources, potentially driving up global oil prices.
According to the sources, China’s four state-owned oil companies—PetroChina, Sinopec, CNOOC, and Zhenua Oil—have temporarily suspended seaborne imports of Russian oil, citing concerns over violating U.S. sanctions.
However, none of these companies have issued an official statement on the matter.
China imports around 1.4 million barrels of Russian oil per day by sea, most of which is purchased by independent refiners, commonly known as “teapots.” The exact amount purchased by state-owned companies varies depending on the source.
Energy market data firm Vortexa Analytics reported that during the first nine months of 2025, China’s state-owned companies imported less than 250,000 barrels per day on average from Russia. Another data firm, Energy Aspects, estimated the figure to be closer to 500,000 barrels per day.
Two trade sources revealed that Unipec, the trading arm of Sinopec, halted purchases of Russian oil last week after the U.K. imposed sanctions on Rosneft, Lukoil, and several Chinese firms.
According to the sources, Rosneft and Lukoil typically export oil to China through intermediaries rather than direct sales. Meanwhile, China’s independent refiners (“teapots”) are expected to temporarily pause Russian oil purchases while monitoring the effects of the sanctions. Several traders indicated that these refiners may resume buying once the situation becomes clearer.