China and India are pulling again from shopping for Russian oil after President Trump sanctioned two of Moscow’s greatest exporters Wednesday.

Reuters reported Thursday that Chinese state-run petroleum corporations PetroChina, Sinopec, CNOOC and Zhenhua Oil had suspended purchases of seaborne Russian oil after the Treasury Department introduced 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 by way of a pipeline connecting Russia and China are set to proceed.

Meanwhile, the wire service reported that Indian refiner Reliance Industries would quickly scale back or stop imports of Russian crude. A spokesperson for the…



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