January 13, Monday, Singapore/India: US restrains sanctions on Russian oil supply to India and China The U.S. Treasury announced sanctions on Friday targeting Russian oil producers Gazprom Neft and Surgutneftegas, along with 183 vessels involved in transporting Russian oil. These measures were aimed at cutting off the revenues Russia relies on to support its war efforts in Ukraine.
Chinese and Indian refiners are expected to increase their oil purchases from the Middle East, Africa, and the Americas, driving up both prices and consign costs. This shift comes as the new U.S. sanctions on Russian oil producers and shipping vessels restrict supplies to Moscow’s main buyers, according to the reports by traders and analysts.
Multiple tankers have been shipped with oil to India and China as the sanctions the price difference varied which were imposed by the group of seven countries in 2022 at the beginning of the war between the trade relations between Europe and Russia, also similarly the oil tankers from Iran have stopped which comes under these sanctions.
These will hit the Russian oil exports when it’s included in these new sanctions, according to several resources by the Chinese traders the Chinese refiners cut out the refiners going forward, these resource-person names are not to be disclosed in public due to the Chinese media.
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