Chinese Refiners Shift Away From Russian Oil Amid U.S. Sanctions

Chinese state-owned oil refiners, including Sino, and PetroChina, have begun canceling Russian oil cargos, according to Bloomberg. This shift comes as U.S. sanctions on Russian energy exports intensify, impacting global supply chains and fuel prices. Smaller private refiners are also holding off on purchases, contributing to a broader realignment in global energy trade. The move reflects growing pressure on China to distance itself from Russia’s energy sector, which has become a focal point of international sanctions efforts.