US President Donald Trump ’s decision to sanction Russi a’s top crude giants Rosneft and Lukoil is expected to stop the oil flows to Indian refiners to a near zero, according to a Bloomberg report.

“Senior executives at the processors said the latest restrictions announced by Washington overnight would make it all but impossible for flows to continue,” the report stated.

Crude prices have seen a 3% jump on reports that Indian buyers may recalibrate Russian oil purchases after the US imposed sanctions.

Trump on assurance from India to lower Russian purchase

After announcing sanctions, Trump indicated that Indian Prime Minister Narendra Modi has assured that India’s Russian oil purchases will go down by 40% by year end.

“India, as you know, has told me they are going to stop…it’s

See Full Page