Chinese refineries refuse Russian oil following U.S. sanctions on Rosneft and Lukoil
global.espreso.tv
Mon, 03 Nov 2025 14:42:00 +0200

Bloomberg reported the information.The outlet explained that Russia maintained its status as the largest oil supplier to China thanks to significant discounts that emerged after Western sanctions were imposed over the war against Ukraine. Now, Washington and its partners are increasing pressure, seeking to deprive Moscow of its main source of revenue.According to traders, state-owned companies Sinopec and PetroChina Co. have suspended purchases of some Russian shipments. Smaller private refineries have also joined the boycott, fearing similar sanctions to those imposed on Shandong Yulong Petrochemical Co., which was recently blacklisted by the United Kingdom and the European Union.Among the Russian crude grades affected by the sanctions is the widely popular ESPO blend, whose prices have sharply declined.According to estimates by consulting firm Rystad Energy AS, the buyer strike affects around 400,000 barrels per day — up to 45% of Russia’s total oil exports to China.Analysts note that the decline in Russian oil imports could open new opportunities for other suppliers — particularly the United States, which last week announced a trade truce with China following a meeting between Donald Trump and Xi Jinping.In addition, Turkey’s largest refineries have begun purchasing more non-Russian oil in response to new Western sanctions against Moscow.








