The Trump administration said it is seeing signs that its sanctions on major Russian oil producers are crimping the economic engine that has allowed Moscow to continue to fund its war in Ukraine.
Prices for Russian oil have plunged as major Indian and Chinese buyers moved to comply with the sanctions before the Friday deadline for companies and banks to wind down business with Russian oil giants Rosneft and Lukoil, a senior Treasury Department official told reporters on a briefing call. The official spoke on condition of anonymity to describe private conversations between the department and foreign buyers.
