China Reduces Energy Imports from Russia, Impacting Moscow's Revenue
China's energy purchases from Russia declined significantly in early 2025, affecting Moscow's income from oil and gas exports.
In a notable shift in energy procurement, China has reportedly reduced its imports of oil, coal, and liquefied natural gas from Russia during the first part of 2025. According to the Ukrainian foreign intelligence service, oil imports from Russia fell by 14% between January and April 2025, amounting to 32.4 million tons.
This decline led to a 23.9% decrease in revenue for Russia, resulting in an income drop to approximately $17.1 billion during the same period.
This trend corroborates earlier reports citing customs data, which indicated that in 2024 China had already reduced its coal imports from Russia, increasing its purchases from other key suppliers, notably Australia.
A study by the London Stock Exchange Group (LSEG) found that Chinese coal imports reached a record high of 547.2 million tons in 2024, constituting 41% of the global coal trade, thereby enhancing China's pricing power in international markets.
Analysts attribute the reduction in Chinese energy purchases from Russia to several factors, including a strategic desire for energy independence, the growth of the electric vehicle market, and the impact of stricter Western sanctions.
Additionally, China's willingness to pay lower prices for energy has played a role in this dynamic.
Imports of liquefied natural gas (LNG) from Russia also decreased by 27%, leading to a corresponding 28% drop in revenue for Moscow from this sector.
While coal imports from Russia saw a 2% increase over the four-month period, there was a notable 13% decline in April alone, as China bolstered its domestic production and increased its share of renewable energy sources.
Furthermore, China has reportedly declined to pay higher prices for new energy supplies than domestic consumers.
In parallel, Chinese investments in Russia have markedly dropped, from an annual average of $1.2 billion between 2011 and 2018 to approximately $400 million in 2022 and 2023. Factors influencing this reduction include the ongoing conflict in Ukraine, existing sanctions, and concerns regarding the unpredictability of the Russian government.
This decline led to a 23.9% decrease in revenue for Russia, resulting in an income drop to approximately $17.1 billion during the same period.
This trend corroborates earlier reports citing customs data, which indicated that in 2024 China had already reduced its coal imports from Russia, increasing its purchases from other key suppliers, notably Australia.
A study by the London Stock Exchange Group (LSEG) found that Chinese coal imports reached a record high of 547.2 million tons in 2024, constituting 41% of the global coal trade, thereby enhancing China's pricing power in international markets.
Analysts attribute the reduction in Chinese energy purchases from Russia to several factors, including a strategic desire for energy independence, the growth of the electric vehicle market, and the impact of stricter Western sanctions.
Additionally, China's willingness to pay lower prices for energy has played a role in this dynamic.
Imports of liquefied natural gas (LNG) from Russia also decreased by 27%, leading to a corresponding 28% drop in revenue for Moscow from this sector.
While coal imports from Russia saw a 2% increase over the four-month period, there was a notable 13% decline in April alone, as China bolstered its domestic production and increased its share of renewable energy sources.
Furthermore, China has reportedly declined to pay higher prices for new energy supplies than domestic consumers.
In parallel, Chinese investments in Russia have markedly dropped, from an annual average of $1.2 billion between 2011 and 2018 to approximately $400 million in 2022 and 2023. Factors influencing this reduction include the ongoing conflict in Ukraine, existing sanctions, and concerns regarding the unpredictability of the Russian government.
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Translated by AI
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