China and India are pulling back from buying Russian oil after President Trump sanctioned two of Moscow’s biggest exporters Wednesday.

Reuters reported Thursday that Chinese state-run petroleum firms PetroChina, Sinopec, CNOOC and Zhenhua Oil had suspended purchases of seaborne Russian oil after the Treasury Department announced sanctions on Rosneft and Lukoil, citing Moscow’s “lack of serious commitment to a peace process to end the war in Ukraine .”

However, shipments of oil via a pipeline connecting Russia and China are set to continue.

Meanwhile, the wire service reported that Indian refiner Reliance Industries would soon reduce or cease imports of Russian crude. A spokesperson for the Mumbai-based conglomerate said Reliance had begun a “recalibration of Russian oil imports,” bu

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