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Russia oil export curbs put focus on demand in China and India

Price cap and EU ban on crude shipments take effect

The tanker Vladimir Arsenyev at the crude oil terminal Kozmino near the port city of Nakhodka, Russia on Aug. 12.   © Reuters

DUBAI -- Asia's oil buyers led by India and China hold the prospects for Russia's oil sector in their hands as a set of global curbs on Russian crude exports comes into effect.

A European Union embargo on Russian seaborne oil imports starting Dec. 5 is the bloc's attempt to punish Moscow for invading Ukraine and comes months after member states led by Germany have tried to reduce their dependence on Russian energy.

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