{"id":128491,"title":"Chinese Oil Majors Halt Russian Crude Purchases Following New US Sanctions","publisher":"Share Talk","author":"sharetalk","published":"2025-10-23T14:44:38+00:00","modified":"2025-10-23T14:44:38+00:00","canonical_url":"https://www.share-talk.com/chinese-oil-majors-halt-russian-crude-purchases-following-new-us-sanctions/","markdown_url":"https://www.share-talk.com/chinese-oil-majors-halt-russian-crude-purchases-following-new-us-sanctions.md","json_url":"https://www.share-talk.com/chinese-oil-majors-halt-russian-crude-purchases-following-new-us-sanctions.json","category":"Blogs","categories":["Blogs","Energy"],"tags":["china","Chinaoil Hong Kong","chinese","EU","European Union","India","Liaoyang Petrochemical","PetroChina","refineries","Russian crude","Shandong Yulong Petrochemical","USA"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/oil-friday-6-oct-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"**Reuters** reports that **China’s state-owned oil companies** have **suspended purchases of seaborne Russian oil** following the **latest US sanctions** on **Rosneft** and **Lukoil**, Russia’s two largest oil producers.\n\nThe decision marks a major escalation in the impact of Washington’s measures, as **China and India** have been among the **biggest buyers of Russian crude** since Western sanctions were first imposed after Moscow’s invasion of Ukraine.\n\nAccording to Reuters, **Indian refiners** — the **largest importers of seaborne Russian oil** — are also preparing to **significantly cut crude purchases from Moscow** to comply with the **new restrictions**.\n\nThe sudden pullback by both **China and India** is expected to deliver a **serious blow to Russia’s oil revenues**, forcing Moscow to seek **alternative markets** or sell at **steeper discounts**.\n\nAnalysts warn that reduced demand from Russia’s two largest customers could also **tighten global supply**, driving **upward pressure on oil prices worldwide** as major importers scramble to secure new crude sources.\n\n### **EU Adds Chinese Refiners and PetroChina Trading Arm to Russia Sanctions List**\n\nIn another major escalation in the **global oil market**, the **European Union** has **added two Chinese refineries** and a **PetroChina trading subsidiary** to its **Russia sanctions list**, according to the bloc’s **Official Journal** published on Thursday.\n\nThe sanctions target **Liaoyang Petrochemical** and **Shandong Yulong Petrochemical**, which together have a **combined refining capacity of 600,000 barrels per day (bpd)** — around **3% of China’s total 19 million bpd refining capacity**.\n\nAlso sanctioned was **Chinaoil Hong Kong**, a **trading arm of PetroChina**, which has been a key intermediary in the global oil trade.\n\nThe move comes amid tightening Western measures against entities accused of **circumventing sanctions** on Russian oil exports. It follows the **US decision to impose sanctions on Rosneft and Lukoil**, which has already prompted **Chinese and Indian refiners** to **suspend or reduce purchases of Russian crude**.\n\nAnalysts say the EU’s latest action could further **disrupt Russian oil flows**, strain **China’s refining sector**, and contribute to **upward pressure on global crude prices**, as markets adjust to the widening scope of energy sanctions."}