India, China banks and refineries moving to comply with Russia sanctions, US official says

A U.S. Treasury official said Indian and Chinese banks and refiners are beginning to align with U.S. sanctions on Russia’s largest oil firms, Lukoil and Rosneft. The sanctions, imposed last month to curb Moscow’s war revenues, are prompting entities in both countries—key buyers of Russian oil—to act cautiously and prioritise their ties with Western partners.