Posted on 10/23/2025 7:58:43 AM PDT by marcusmaximus
Four major state-owned Chinese oil companies have suspended their purchases of seaborne Russian oil in response to the new sanctions imposed by the Trump administration on Rosneft and Lukoil, according to a Reuters report, citing anonymous trade sources.
The suspension, if confirmed, would put Russia under major economic pressure to end its war on Ukraine. China is a key strategic partner of Russia. Beijing's large-scale oil purchases have aided Moscow through punishing Western sanctions related to its invasion of Ukraine. The four oil firms involved are PetroChina, Sinopec, CNOOC, and Zhenhua Oil, per Reuters.
(Excerpt) Read more at newsweek.com ...
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