Why Latest US Sanctions on Russian Oil Are a Big Deal
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In the final days of Joe Biden’s presidency, the US unveiled its most sweeping and aggressive effort yet to disrupt the oil shipments that are helping Russia to fund its war in Ukraine.
About 160 tankers were sanctioned, with India — a key buyer of seaborne oil — agreeing not to allow the ships into its ports from March. Two large energy producers and exporters were also targeted, along with trading firms that organize shipments, insurance companies, two US oil service providers and a Chinese oil terminal operator.