Russia has remained China's largest crude supplier, but those flows fell to 2 million b/d (83.15 million metric tons) in the first 10 months of 2025, down 7.7% year over year, according to data from China's General Administration of Customs.

Speaking to journalists, Putin said he "hoped" the latest US sanctions on Russia's oil sector -- targeting Rosneft and Lukoil directly -- wouldn't unduly impact the market, but warned removing Russian oil was likely to push up prices, saying he had "discussed this with my American colleagues."

The overall impact on China’s crude demand should be short-lived as traders re-route cargoes to other ports, Energy Aspects said.

Russian-origin crude liftings from Russian ports reached 3.88 million b/d, the highest since April 2024,

These new measures follow the 18th sanctions package, unveiled in July 2025, which lowered the oil price cap on Russian crude to US$47.6/bbl,

Trump has repeatedly threatened the largest buyers of Russian crude with sanctions if a deal to end the war in Ukraine is not reached. On Aug. 6, Trump issued an executive order raising tariffs on US imports from India from 25% to 50%, in response to what Trump described on Truth Social as India's "massive" purchases of Russian crude.

Imports of goods from Russia in the first quarter of 2025 totaled 8.74 billion euros ($10.11 billion), down from 30.58 billion euros four years earlier. Since January 2022, the EU has imported 297 billion euros' worth of Russian goods.

Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.

Calculations based on data from European gas transmission group Entsog showed that Russian gas exports via the TurkStream pipeline rose to 51.5 million cubic metres (mcm) per day in July from 37.6 mcm per day in June.

Among the sanctioned entities is the Zhoushan Jinrun Petroleum Transfer Co., a China-operated oil terminal located within the greater Zhoushan port area.

According to the resolution, IAEA officials are not allowed to enter Iran for inspections unless the security of the country’s nuclear facilities and peaceful nuclear activities is guaranteed.

Hungary and Slovakia decided to block the sanctions package in response to European Union plans to phase out Russian energy imports, the minister said.

On April 10, the US Department of the Treasury sanctioned nearly 30 oil tankers involved in shipping Iranian crudes, as well as a Chinese storage terminal.

These primarily impact China and India, who are the largest buyers of Russian oil. Both have begun turning away Russian tankers over the past few days in anticipation of the move.

“The Department of State’s designations aim to reduce Russia’s oil and natural gas revenue through sanctions on operators of significant Russian crude oil production and liquified natural gas projects. We are designating the chief executive officer and members of State Atomic Energy Corporation Rosatom’s (Rosatom),” according to a State Department Fact Sheet.