China today criticized the new sanctions announced by the United States Treasury Department against Russian oil companies Rosneft and Lukoil, for “lacking a basis in international law”.
“Beijing systematically opposes unilateral sanctions that have no basis in international law and are not authorized by the United Nations Security Council,” said Chinese diplomatic spokesman Guo Jiakun, at a press conference.
According to Guo, dialogue and negotiation remain “the only viable way” to resolve the “crisis” in Ukraine, warning that “coercion and pressure will not solve the problem”.
On Wednesday, Washington announced sanctions against the two main Russian oil companies, accusing them of financing the “Kremlin war machine” and justifying the measure with Russia’s alleged “lack of serious commitment” to a peace process to end the war in Ukraine.
“Given Russian President Vladimir Putin’s refusal to end this senseless war, the Treasury is sanctioning Russia’s two largest oil companies,” Treasury Secretary Scott Bessent said in a statement.
State-owned Rosneft is responsible for almost 6% of world oil production and about half of Russian production. Together with Lukoil, it exports 3.1 million barrels of crude daily.
The two companies were already under US sanctions, but the new measures now extend to subsidiaries and entities in which they hold more than a 50% stake, directly or indirectly.
The sanctions include freezing assets in the United States, banning transactions with U.S. companies or citizens, and exclusion from the U.S. financial system.
Since the start of the war in Ukraine, in February 2022, China has reiterated its opposition to sanctions against Russia, claiming that they “do not solve the problems” and have no “international legal basis”.
Beijing has maintained an ambiguous position regarding the conflict, calling for respect for the “territorial integrity of all countries”, including Ukraine, while defending the “legitimate concerns of all parties”, in a reference to Russia.
China has strengthened its ties with Moscow in recent years and imported more than 108 million tons of Russian oil in 2024, a record amount, classifying bilateral energy cooperation as “legitimate”.