China's "Reference News" cited TASS report, in response to the question of whether China would purchase more Russian oil if the US reduced its oil supply to China to zero, Russian Deputy Foreign Minister Andrey Rudenko stated that Russia is ready to supply China with as much oil as it needs.
Rudenko said: "I believe that China's actions will be based primarily on its national interests. If national interests require purchasing oil, China will certainly do so, and it is our Chinese friends' choice."
Since the introduction of "reciprocal tariffs" on April 2, the US government announced on the 10th that tariffs on Chinese goods exported to the US would further increase to 125%. Subsequently, Beijing also announced corresponding countermeasures, raising tariffs on all US goods exported to China to 125%.
Experts have pointed out that if the current tariff rates are maintained, US crude oil exports to China could drop to zero in the coming months. As China imposes additional tariffs on US goods, refining US crude oil will become unprofitable for Chinese refineries.
Sputnik News Agency reported that against the backdrop of generally falling global oil prices and stock markets due to Trump's tariff measures, Russian export oil prices have fallen below the benchmark price set by the 2025 federal budget ($69.7 per barrel).
Reports indicate that these prices have also dropped below the price threshold specified in the budget rules, according to which oil-generated budget revenue is transferred to the Russian National Wealth Fund. The price of the main export oil type, Urals crude, once fell to $47.54 per barrel, while the price of premium oil type ESPO (Eastern Siberia — Pacific Ocean) crude dropped to $53.19 per barrel.
Sputnik News Agency pointed out that in early April, the share of Western tankers in the Russian oil transportation rose to account for 43% of the amount already shipped or scheduled to be shipped at Baltic and Black Sea ports this month. This trend is attributed to the declining Russian crude oil prices. If oil prices exceed $60 per barrel, the Group of Seven (G7) prohibits Western companies from transporting and insuring ships carrying Russian oil, but recently Russian crude prices have fallen below this price threshold.