US Hits Russian Oil With Toughest Sanctions Yet
In today's episode of India Global, US President Joe Biden has imposed Washington's harshest sanctions on Russian oil entities, sanctioning 2 major Russian entities and roughly 183 oil tankers, a move that could hurt India and China, Moscow's top buyers. Chinese and Indian oil refiners are likely to seek alternative sources for crude from the Middle East, Africa and others, which could lead to a surge in oil prices and freight costs. Oil prices surged to $81.22 as markets reacted to the looming potential for supply disruptions. NDTV's Gaurie Dwivedi speaks to Professor Anuradha Chenoy, Former Chairperson, Centre for Russian and Central Asian Studies, JNU and Dr. Asif Iqbal, Foreign Trade Expert and President- Indian Economic Trade Organization.
