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Eastern Economic Forum

China weathers Hormuz supply crisis through proactive stockpiling — Rosneft CEO

Igor Sechin expressed confidence that this approach would continue during the implementation of the 15th Five-Year Plan, whose core concept is ensuring "security through self-sufficiency"

VLADIVOSTOK, September 4. /TASS/. China has overcome the oil supply crisis in the Strait of Hormuz thanks to proactive stockpiling, large-scale electrification, and its strategic partnership with Russia, said Igor Sechin, CEO of Rosneft and Executive Secretary of the Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Safety.

"China has weathered the Hormuz crisis due to early reserve building, large-scale electrification, and its partnership with Russia. At the heart of this strategy is a balanced strategy for ensuring energy security, implemented under the 'four energy revolutions' policy proclaimed by Chinese President Xi Jinping in 2014," Sechin said at the Russia-China Energy Business Forum, held on the sidelines of the Eastern Economic Forum (EEF).

He expressed confidence that this approach would continue during the implementation of the 15th Five-Year Plan, whose core concept is ensuring "security through self-sufficiency."

The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of the Far Eastern Federal University (FEFU). The main theme of the EEF in 2026 is "The Far East: Development for the Benefit of People." The event is organized by the Roscongress Foundation with the support of the Russian Government. TASS is the general media partner.

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