In China, there are no buyers for March deliveries of oil from Russia after new American sanctions on Russia's "shadow fleet" led to increased tanker transport costs, which were not covered by these sanctions,

As reported by Reuters, these sanctions have already had tangible effects. The main recipients of Russian oil, China and India, have suspended purchases from Russia because the de

China and India have stopped trading in Russian oil as US sanctions have caused a sharp rise in tariffs for tanker freight. Source: Reuters Details: According to traders and shipping companies, the trade in Russian oil that was loaded in March has stopped in Asia as a large price gap between buyers and sellers has emerged in China.

The European Commission has introduced a new set of proposed sanctions against Russia in response to its ongoing invasion of Ukraine, Reuters reported on Wednesday. This 16th package of sanctions includes significant economic measures aimed at further isolating Russia from international trade,