Reported about 15 hours ago
The US has imposed its most extensive sanctions on Russia's oil trade just ahead of President Biden's exit, targeting major firms and oil tankers, potentially disrupting Russian exports significantly. This move aims to address anticipated oil supply surpluses and puts pressure on countries like India and China, critically affecting companies involved in insuring and trading Russian oil. While these sanctions are poised to impact immediate oil flows and future production, the long-term effectiveness will depend on enforcement and the response of the incoming administration.
Source: YAHOO