EU’s Russia Clampdown to Hit Third-Country Oil Refiners, Traders

The European Union’s next round of sanctions against Russia will target large parts of the global oil industry as the bloc looks to intensify pressure on the Kremlin’s access to petrodollars.

European Commission President Ursula von der Leyen told reporters on Friday that the EU’s latest measures will focus on entities in so-called third countries. About a dozen Chinese and several Indian bodies will be affected, according to people familiar with the matter.