The US confidence in a price cap follows positive reaction by China and India to the plan, which would limit Moscow’s revenues over its aggression in Ukraine

A "new paradigm" was at play, said DoubleLine's Bill Campbell, such as tensions around Taiwan and in the South China Sea as potential flashpoints with the West.

China's Embassy in Washington said it has not provided assistance to either party in the war, and it opposed the addition of five Chinese firms to the US trade blacklist

China is the second-largest contributor to Russia's import decline since it invaded Ukraine, says a report by the Peterson Institute for International Economics in Washington.

Putin said Russia was discussing increasing the presence of Chinese cars on the Russian market as well as the opening of Indian supermarket Chains.

The move by the Indian Register of Shipping is keeping state-owned Sovcomflot's tanker fleet afloat and ensuring it can continue exports to India of Russian oil

Russian grades totalled 16.5% of India's oil imports last month, but the country still gets nearly 60% of its oil from Iraq and nations in the Middle East, and the Russian spurt may have already ended

The days of cheap Russian oil have evaporated, according to Indian sources, who say Rosneft has failed to sign new oil deals with Indian refiners, as sales have been done with other customers.

Russian news agency Sputnik said the move was designed to bolster cooperation among Shanghai Cooperation Organisation nations ``as a bulwark against US sanctions.''

Moscow has become increasingly frustrated by its requests for aid falling on deaf ears as Beijing has been cautious not to break US-led curbs

GAIL has a long-term import deal with a unit of the Russian energy giant to buy an average 2.5 million tonnes of liquefied natural gas (LNG) per year

Chinese companies implicated in a Russian-backed oil smuggling and money laundering network to buy Iranian oil will be subject to US sanctions.