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India halts trade with US-sanctioned Russian companies and tankers, government source says

  • India's refiners have ceased trade with U.S.-sanctioned Russian companies and tankers, according to a government source on Monday.
  • The U.S. Imposed severe sanctions on Russian oil companies and vessels last week, targeting revenue for the war in Ukraine.
  • India expects no disruption in Russian crude supplies during the two-month wind-down period until March 12.
  • The Kremlin warned that U.S. Sanctions could destabilize global markets and pledged to minimize their impact.
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