Against the backdrop of new U.S. sanctions against "Rosneft" and "Lukoil," state-owned oil companies in China have temporarily halted the purchase of Russian oil that is delivered by sea. This was reported by Reuters.
It is noted that Chinese companies express concerns that participating in such deals could lead to the risk of falling under secondary sanctions.
China imports an average of about 1.4 million barrels of Russian oil per day (equivalent to 222 million liters). However, the majority of these supplies are carried out not by large giants, but by small independent refiners known as "teapots."
As a result of the suspension of purchases, China will begin to seek alternative sources of oil in countries in the Middle East, Africa, or Latin America. Experts predict that this could lead to an increase in global oil prices.
