The US state department says it is aware of talks between Russia and India concerning the purchase of oil. It has no objection to India buying Russian oil, provided it buys at discount

Arrivals of Saudi crude totalled 14.61 million tonnes in January-February, equivalent to 1.81 million barrels per day (bpd), down from 1.86 million bpd a year earlier, data showed

Many banks stopped issuing letters of credit for Russian exporters in wake of sanctions, forcing companies to simply do without them.

US President said the move would deal a blow to Putin’s ‘war machine’ but warned of inevitable gasoline price rises