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China's state-owned companies "frightened" by US sanctions/ Suspend purchases of Russian oil

2025-10-23 16:29:00, Kosova & Bota CNA

China's state-owned companies "frightened" by US sanctions/

China's major state-owned oil companies are suspending purchases of Russian oil transported via sea routes after the United States imposed sanctions on Rosneft and Lukoil, Moscow's two largest oil companies.

The move comes as refiners in India, the largest buyer of Russian oil, are planning to sharply reduce crude oil imports from Moscow to comply with US sanctions imposed over the Kremlin's invasion of Ukraine.

The sharp drop in oil demand from Russia's two largest customers will naturally put pressure on Moscow's oil revenues and force the world's major importers to seek alternative sources of supply, pushing up global prices. /CNA





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