Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market in its first sour crude import tender since March 2022, expecting the latest U.S. sanctions to hit supplies from Moscow, trade sources said on Thursday.

A fresh wave of U.S. sanctions against Russia’s oil industry threatened to disrupt global supplies, sending crude prices to their highest in more than four months.

Sanctions imposed by the United States on January 10 against the Russian oil sector have halted about one-tenth of Russia's shadow fleet, which transports oil worth up to $3.5 billion. The new sanctions may significantly disrupt Russian oil supplies,

Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on the latest U.S. sanctions on Russia and a larger-than-forecast fall in U.S. crude stocks. Brent crude futures were down 37 cents,

New and more expansive US sanctions against Russia are likely to significantly disrupt oil supplies, the International Energy Agency said on Wednesday. The IEA said in its monthly Oil Market Report: Washington targeted two major oil producers (Gazprom Neft and Surgutneftegaz),

Sanctions imposed by the United States on 10th January against the Russian oil sector have halted about one-tenth of Russia's shadow fleet. The value of the oil it transports could exceed £2.9 billion.

"This time it's different" is a well-worn cliché that seems to be getting another whirl with the latest U.S. sanctions against Russia's crude oil exports.

Russian seaborne oil exports may decrease in the coming weeks after the United States imposed sanctions on two of Russia’s largest exporters and about 160 tankers in the shadow fleet, Bloomberg reports.

The United States on Wednesday took fresh action targeting Russia over its invasion of Ukraine, taking aim at efforts to circumvent U.S. sanctions as Washington continues to increase pressure on Moscow in the final days of the Biden administration.