In the final days of Joe Biden’s presidency, the US unveiled its most sweeping and aggressive effort yet to disrupt the oil shipments that are helping Russia to fund its war in Ukraine.

India is now staring at the possibility of an oil shock after the U.S. decided to implement sweeping sanctions on Russia's oil industry.

Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market in its first sour crude import tender since March 2022, expecting the latest U.S. sanctions to hit supplies from Moscow, trade sources said on Thursday.