Russia's oil shipments via the Baltic Sea fell by roughly 10% in the last four months of 2024, the Finnish Border Guard said, as the impact of EU sanctions against Russian oil and gas exports adopted in June took effect.

On Jan. 10 the US Treasury’s Office of Foreign Assets Control sanctioned 161 tankers and traders involved in about 2,000 shipments since the invasion began. It also acted against Moscow-based ship insurers and two companies — Surgutneftgas and Gazpromneft — which in the first 10 months of last year accounted for almost 30% of Russia’s oil exports.

Oil prices recovered on Monday as supply concerns persisted after Washington imposed two rounds of sanctions in the past two weeks on Russia's energy sector over the Ukraine war. Brent crude futures climbed 34 cents,

Six Russian oil tankers still under construction by Russia's Zvezda shipyard were included in U.S. sanctions imposed last week, the first time Washington is known to have banned tankers before they even set sail,

External affairs ministry spokesperson Randhir Jaiswal indicated that India had no plans to reduce oil purchases from Russia following the US sanctions