Suspend $500M new investment and significant operations and partnerships. China's top refiners PetroChina and Sinopec are resuming purchases of discounted Russian crude after a brief pause in late 2022, just before the European Union embargo on Russian oil started. NACP adds the three largest Chinese oil and gas companies to the list of international sponsors of war. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. // One of China's largest crude oil buyers, Sinopec Shanghai Petrochemical, cut purchases from Russia in the first quarter after more than doubling in 2024.