The latest US sanctions on two of the largest Russian oil companies are likely to shake up the market. This week, oil prices surged following the Trump administration's announcement of sanctions targ... ...

US sanctions on Russia’s energy giants are sending shockwaves deep into the heart of China’s oil industry, where both state and private refiners face heightened pressure to keep up supplies while steering clear of penalties. As much as 20% of China’s crude imports — about 2 million barrels a day in the first nine months of this year — come from Russia, making it one of the country’s leading sources of oil for processing into products such as diesel, gasoline and plastics. Most Read from Bloomberg The Tr ...