Trump Sanctions Working: India Might Get Zero Oil Supply From Russia
US President Donald Trump on Thursday imposed fresh oil sanctions on Russia and the move also affects India. Oil prices jumped nearly 6% in the day’s trading session. Crude oil reached $61.75 per barrel and saw its first surge in the charts in six months. Trump’s sanctions have hit Russia hard, and India is on the losing side, as sales could fall to net zero. Also Read: Trump Administration Ready to Take Stakes in Quantum-Computing Firms Source: Investing,com Crude Oil Supply From Russia To India Halted By Donald Trump Source: Freepik.com The flow of crude oil from Russia to India is set to fall to near zero, according to a latest report from Bloomberg. The development comes after US President Donald Trump tightened sanctions on Russia, making it difficult for refiners to purchase crude oil. Russian petroleum refinery companies Rosneft PJSC and Lukoil PJSC faced increased sanctions by the Trump administration. Crude oil prices soared by nearly $3.5 per barrel as investors re...