China’s State Oil Giants Halt Russian Crude Purchases After U.S. Sanctions, Disrupting Global Supply Flows

China’s major state-owned oil companies have reportedly suspended purchases of seaborne Russian crude following newly imposed U.S. sanctions on Russia’s two largest oil producers. According to multiple trade sources cited by Reuters, companies including PetroChina, Sinopec, CNOOC, and Zhenhua Oil will refrain, at least in the short term, from purchasing Russian crude imported by sea in response to the United States’ recent sanctions targeting Rosneft and Lukoil. 

The decision is significant because China is one of Russia’s two biggest buyers of crude.

Major importers such as China and India may recalibrate their Russian import strategies, not solely for commercial reasons but also to reduce exposure to sanctions-related compliance risk.