China's exports to Russia plunge record 22% in October
Photo: Vladimir Putin and Xi Jinping (Getty Images)
China's exports to Russia fell sharply in October, showing the biggest drop in eight months. Trade is increasingly being squeezed by Western sanctions, logistical disruptions, and falling demand, according to Reuters.
Imports of Russian goods to China in October grew by only 2.5%, which is also a slowdown compared to September's 3.8%. Overall, in the first ten months of 2025, China's exports to Russia fell by 11.9% compared to the same period last year.
This time, the Chinese customs administration did not disclose details on the categories of goods that declined the most.
China's total exports in dollars also unexpectedly declined in October after several months of active shipments ahead of US President Donald Trump's tariff increases.
Trade between China and Russia has slowed significantly since its record highs in 2024, despite efforts by both governments to shield economic cooperation from Western pressure.
Beijing faces new US tariffs and restrictions on technology imports, while Moscow faces increasingly tough sanctions over its war against Ukraine.
Chinese state-owned energy companies have already suspended purchases of Russian oil transported by sea after the US imposed sanctions on Rosneft and Lukoil.
Against this backdrop, Russian Prime Minister Mikhail Mishustin visited China for talks with Premier Li Keqiang and Chinese President Xi Jinping.
The parties expressed their readiness to jointly counter unilateral Western sanctions and develop cooperation in the fields of energy, agriculture, and trade.
US sanctions against Russia
Last month, the US expanded sanctions against Russia over its war against Ukraine, imposing restrictions on two key energy companies, Rosneft and Lukoil.
Although the new restrictions will officially take effect on November 20, their effect is already being felt. In particular, Indian oil refineries have announced their intention to reduce purchases of Russian oil.
Recently, there have been reports that Lukoil may sell its foreign assets to the Swiss company Gunvor. However, today it became known that the Swiss company has refused to buy Lukoil's assets.
For more details on the impact of the new US sanctions on Russia, see the article by RBC-Ukraine.
