No confirmation from India yet, but the new sanctions (and China’s announcement) are already causing a rally in oil price. Of course we have seen Trump’s sanctions can be quickly reversed. Or not. Meanwhile, China and India will certainly pursue workarounds to continue getting Russian oil at a nice discount. We’ll see how this works out in the long term. Trump should announce secondary sanctions on Europe for their Russian oil and gas purchases. Say, $10/barrel and $.50/MMBtu, with sanction money paying for US weapons. That should get a reaction...
A most interesting comment. Europe is still using various avenues to "wash" Russian supplies of products -- not just energy -- through third-party deals. Moreover, we're still importing Russian products as well, through the headlines tend to focus elsewhere.
Given the EU hasn't acted immediately to STOP all imports of Russian products -- including radioactive isotopes and such -- and that we are so heavily depended on Chinese chemicals for our pharmaceuticals ( one example of many ), it seems much of the work of governments these days is to present one face to the press and another to importers and manufacturers. The EU "stopping" remains a proposal for the end of 2026. So your highlighted comment above would be quite a surprise. Yes, sir.