Russia is sending cargoes of sanctioned oil to India on tankers that have been blacklisted by the US Treasury — setting up an acid test of Moscow's ability to get around aggressive measures imposed by Washington earlier this month.

Indian Oil Corp, the country's top refiner, is facing a potential drop in its Russian oil imports this fiscal year ending March 31, following the latest U.S. sanctions on Moscow, according to its head of finance,

New U.S. sanctions on Russian oil exports have caused tanker rates to surge and trade to freeze as shippers scramble for non-sanctioned vessels.

Millions of barrels of oil that would normally be preserve of oil refineries in Europe are instead heading to Asia as US sanctions on Russia revive one of the market’s great arbitrage trades.

Russian officials say rescue workers have successfully removed almost 1,500 tons of oil stranded onboard a tanker that ran aground in December, sparking a devastating oil spill that has damaged miles of coastline along the Black Sea.

Despite the latest round of sanctions by the US Treasury, Russia has managed to keep its four-week rolling average oil shipments fairly steady over the seven-day period to January 26

Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.

Russian refineries are processing more crude oil in the hope of boosting fuel exports after new U.S. sanctions on Russian tankers and traders made exports of unprocessed crude more difficult.

Trade for March-loading Russian oil in top buyer Asia has stalled as a wide price gap between buyers and sellers emerged in China after costs for chartering tankers unaffected by U.S. sanctions jumped,

The United States has clarified to India that tankers loaded with Russian oil have to discharge by Feb. 27 under the latest sanctions targeting Moscow's oil revenue, India's oil secretary Pankaj Jain told reporters at an event.

Russia has continued to send cargoes of crude oil to India on tankers that have been sanctioned by the US, Bloomberg reported on Tuesday. This situation presents a crucial test of Moscow’s ability to circumvent the stringent sanctions implemented by Washington earlier this month.