China’s state-owned oil companies, including PetroChina, Sinopec, CNOOC, and Zhenhua Oil, have temporarily suspended purchases of Russian oil shipped by sea in response to U.S. sanctions on Russia’s top energy firms, Rosneft and Lukoil. The move comes amid concerns about potential legal and financial risks. India, the largest buyer of Russian seaborne oil, is also reducing imports for similar reasons, which could significantly impact Russia’s oil export revenues and pressure global crude markets. China imports roughly 1.4 million barrels of Russian oil by sea daily, mostly purchased by independent “teapot” refineries, while state-owned companies account for smaller volumes. Pipeline imports of nearly 900,000 barrels daily, managed solely by PetroChina, are expected to remain largely unaffected. Traders predict that India and China will now seek alternative oil sources from the Middle East, Africa, and Latin America, potentially driving up global oil prices further.