Story perspectives

China Halts Russian Oil Purchases Amid U.S. Sanctions

11/11/2025

Center

Yanchang Petroleum Stops Russian Oil

Yanchang Petroleum has halted purchases of Russian oil and excludes it from tenders for December to mid-February.
This follows reports that four major state-owned Chinese oil companies have suspended Russian oil imports.
U.S. sanctions target major Russian oil producers to pressure President Putin into negotiations.
Chinese officials have criticized unilateral sanctions and called for dialogue.
U.S. President Donald Trump is scheduled to visit China early next year.

Left

Lukoil Faces Crisis

Lukoil, the Russian oil company, has declared force majeure and cannot pay salaries to its Iraqi employees after the Iraqi government halted collaboration, risking its 75% stake in the West Qurna-2 field.
Gazprom Neft plans to divest from Naftna Industrija Srbije, while Serbia seeks a US Treasury waiver to keep fuel supplies ahead of winter.
Lukoil's global assets, valued at over $20 billion, are at risk amid the sanctions.

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Yanchang Petroleum Stops Russian Oil

Yanchang Petroleum has halted purchases of Russian oil and excludes it from tenders for December to mid-February.
This follows reports that four major state-owned Chinese oil companies have suspended Russian oil imports.
U.S. sanctions target major Russian oil producers to pressure President Putin into negotiations.
Chinese officials have criticized unilateral sanctions and called for dialogue.
U.S. President Donald Trump is scheduled to visit China early next year.

1 / 2