Trump sanctions bite! Oil heading to India, China falls steeply; but can the world permanently ignore Russian crude?
US President Donald Trump’s latest sanctions on Russian crude oil firms appears to have had the intended impact – at least as of now. Refiners are reportedly unwilling to pick up Russian crude oil from ships, wary of US sanctions.
According to a Bloomberg report, seaborne crude exports from Russia have seen a significant decline, marking the steepest drop since January 2024, as recent US sanctions caused main purchasers to distance themselves from Russian oil.
