The largest Chinese petrochemical company, Sinopec Shanghai Petrochemical, announced its intention to reduce the import of Russian oil.

Axar.az informs according to report, this decision is related to changes in the company’s policy, driven by actions of the Donald Trump administration. It is likely due to the risk of secondary sanctions that could be imposed on organizations cooperating with the Russian oil and gas sector.

Chinese companies, including Sinopec, are trying to minimize risks associated with cooperation with Russia to maintain access to Western markets and technologies.

Notably, in 2024, the company purchased 1.22 million tons of hydrocarbons from Russia, which accounted for about 9% of its total purchases.