India and China are Russia's top oil customers. Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, and Chinese leader Xi Jinping pictured in June 2019.Mikhail Svetlov/Getty ImagesThe latest US sanctions on Russia's energy sector impact China and India, altering trade dynamics.The sanctions target Russian oil giants and tankers, raising oil prices to a four-month high.China and India may seek oil from other regions, while Russia might offer discounts.The US' latest move to hit Russia's energy revenues is changing up the industry's global trade flows.On Friday, the US Treasury Department— together with the UK — slapped new sanctions against Russia's key energy sector, including restrictions against oil giants Gazprom Neft and Surgutneftegas.The Biden administration also imposed sanctions on 183 tankers associated with Russia's oil trade.

BING NEWS:
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