The US Treasury claimed success in the department’s latest efforts to undermine Russia’s funding capacity for its war against Ukraine, in an unusual statement showcasing the market impact of measures against oil giants
“Demand for Russian oil is plunging, driven by the efficacy of US sanctions,” the Treasury’s office overseeing US sanctions said. Various grades of Russian oil are “trading well below all other international prices,” with several at multi-year lows, the release said.
Nearly a dozen major Indian and Chinese buyers have said they intend to pause their purchases of Russian December deliveries, ...