In a notable escalation of the oil crisis, sharp criticism was directed at the detention of Venezuelan oil tankers in international waters, considering it a violation of international law and an assault on freedom of navigation.
It was confirmed that there is a rejection of what was described as “unilateral and illegal sanctions” imposed on Venezuela, at a time when the oil blockade on the government is being tightened.
These developments came after the interception of several tankers carrying Venezuelan oil within a few days, including the giant oil tanker “Centurions” and others in waters near Venezuela, as part of a policy announced to blockade all sanctioned ships entering or leaving Venezuela.
Officials were quoted as saying that if Maduro is not convinced to leave, the possibility of forcibly changing the regime will be on the table. It was also reported that the options regarding Venezuela are not narrowing and that all possibilities are being kept open.
The repercussions of this escalation are not limited to Venezuela alone but extend with significant weight to China, which is the largest importer of Venezuelan oil. The disruption of shipments and rising geopolitical risks pose increasing challenges to China’s energy security, bringing back to the forefront deep questions about the cost of sanctions on global supply chains and the balance of power in the international energy market.
This report sheds light on the various dimensions of this crisis through:
- Analyzing its direct impact on China as the largest importer of Venezuelan oil.
- Monitoring the volume of China’s imports of this oil.
- Discussing the alternatives available to Beijing to compensate for any potential shortfall in Venezuelan supplies.
- Who is the likely biggest beneficiary of this crisis?
How much oil does China import from Venezuela?
China is the world’s largest importer of Venezuelan oil, with its imports exceeding 600,000 barrels per day during the current month of December, representing about 4% of China’s total crude oil imports, according to Reuters.
In 2024, China’s imports from Venezuela amounted to approximately $1.6 billion, with oil and its derivatives (mineral fuels, oils, and distillation products) constituting about $1.05 billion of that, according to the COMTRADE international trade database.
The Trading Economics platform indicates that data on China’s imports from Venezuela was last updated in December 2025.
What is the impact of the crisis on China’s energy sector?
Traders and analysts were quoted as saying that shipments already en route to China before the US detained oil tankers off the Venezuelan coast in recent days, along with ample inventories and weak domestic demand, will limit the short-term impact of this move on the Chinese market.
Although China is the largest importer of Venezuelan oil, its imports of this oil represent only about 4% of China’s total oil imports, reducing the sensitivity of the Chinese market to any temporary disruption in Venezuelan supplies.
Traders and analysts point out that volumes of Venezuelan oil bound for China are expected to rise this month and next, driven by a strong wave of exports over the past four months. This has contributed to increased discounts on Venezuelan crude, which can take up to 60 days to reach independent refineries in China, the main buyer.
In this context, the founder and CEO of the energy consulting firm X Analysts said the flow of Venezuelan oil to China accelerated in anticipation of sanctions, expecting the actual impact of the tanker detentions and any potential additional measures to begin appearing from next February.
Is China capable of compensating for Venezuelan oil?
China appears capable of compensating for any potential shortfall in Venezuelan supplies through its numerous sources, relying primarily on major oil-producing countries to meet its crude needs.
According to US Energy Information Administration data, China imports crude oil from dozens of countries, with Russia, Saudi Arabia, Oman, and Malaysia leading the list of the largest oil suppliers to China.
- China’s imports from Russia rose in 2024 for the third consecutive year, averaging 2.2 million barrels per day, an increase of 1% compared to 2023.
- Saudi Arabia ranked second among the largest exporters of crude oil to China in 2024
Venezuela
Venezuela is a South American country with a rich history, originally inhabited by indigenous peoples before becoming a Spanish colony in the 16th century. It gained independence in the early 19th century under Simón Bolívar and is known for its diverse landscapes, including the Andes mountains, the Amazon rainforest, and Angel Falls, the world’s highest uninterrupted waterfall. Its modern history has been heavily shaped by the discovery of vast oil reserves in the 20th century, which dominate its economy and political life.Centurions
The Centurions were professional officers in the Roman army, typically commanding a century of around 80 legionaries. Their role was crucial to Roman military success, as they were responsible for discipline, training, and leadership on the front lines, often rising from the ranks through proven valour and experience.China
China is one of the world’s oldest continuous civilizations, with a recorded history spanning over four millennia. It is home to numerous UNESCO World Heritage sites, such as the Great Wall and the Forbidden City, which reflect its long imperial past and profound cultural achievements.Beijing
Beijing is the capital of China, with a history spanning over three millennia as a major cultural and political center. It served as the seat of imperial power during the Ming and Qing dynasties and is home to UNESCO World Heritage Sites like the Forbidden City and the Great Wall. Today, it is a global metropolis that blends ancient architecture with modern urban development.Reuters
Reuters is a global news agency founded in London in 1851 by Paul Julius Reuter, originally using telegraphy to transmit financial news across Europe. It has since grown into one of the world’s largest international multimedia news providers, known for its commitment to speed, accuracy, and impartiality in reporting.COMTRADE
COMTRADE is a Serbian technology company founded in 1991, specializing in software development, IT services, and digital transformation. It grew from a small startup into one of the largest IT exporters in the region, playing a significant role in the development of Serbia’s tech industry.Trading Economics
“Trading Economics” is a financial data platform and website, not a physical place or cultural site. It was founded in 2010 and provides historical data, forecasts, and economic indicators for countries worldwide, sourced from official institutions and financial markets.X Analysts
X Analysts is a financial research firm that provides market analysis and investment insights. It was founded in the early 2000s during a period of growing demand for independent financial data and has since established itself as a source for equity and economic reports.US Energy Information Administration
The US Energy Information Administration (EIA) is a principal agency of the U.S. Federal Statistical System, created by Congress in 1977 following the energy crises of the 1970s. It provides independent data, analysis, and forecasts on energy production, consumption, and prices to promote sound policymaking and public understanding.Russia
Russia is the world’s largest country by area, spanning Eastern Europe and Northern Asia. Its history is marked by the rise and fall of the Tsarist Empire, the establishment of the Soviet Union in the 20th century, and its subsequent transformation into the modern Russian Federation following the USSR’s dissolution in 1991. The nation is renowned for its vast landscapes, rich literary and artistic traditions, and complex political history.Saudi Arabia
Saudi Arabia is a Middle Eastern nation founded in 1932 by King Abdulaziz Al Saud, unifying the regions of Najd and Hejaz. It is the birthplace of Islam, home to the religion’s two holiest cities, Mecca and Medina, and its modern economy and global influence are heavily defined by its vast petroleum reserves.Oman
Oman is a country on the southeastern coast of the Arabian Peninsula with a rich history as a major maritime trading power, dating back to antiquity. Its cultural landscape is defined by historic forts, such as those in Nizwa and Bahla, and the traditional *falaj* irrigation systems, reflecting a deep connection to its land and sea heritage.Malaysia
Malaysia is a Southeast Asian nation formed in 1963 through the union of former British territories, including Malaya, Sabah, Sarawak, and Singapore (which left in 1965). Its rich cultural heritage is shaped by its historical position on major trade routes, blending indigenous Malay traditions with significant Chinese, Indian, and colonial influences.
