The U.S. Is Considering Sanctioning Countries That Buy Russian Oil

OilPrice.com | May 19, 2022 at 2:30 PM
  • The U.S. is looking to convince countries to reduce and eventually phase out imports of Russian oil, U.S. officials tell NYT.
  • China and India aren’t shying away from Russian crude, although some Chinese state giants haven’t ramped up imports of spot cargoes from Russia despite the steep discounts at which Russian oil is selling.
  • In India, cheap Russian crude oil is attracting India’s price-sensitive buyers to the point that Russia became the fourth largest oil supplier to India in April, moving up from the 10th place in March.