TOKYO -- Rates for very large crude carriers, or VLCCs, are spiking as tighter U.S. sanctions on Russian crude oil have prompted India and China to shift to other sources.
Transportation
Tanker rates spike as supply tightens on new US sanctions vs Russia
India and China seek other crude oil sources, expanding demand
India is among the countries seeking to move away from buying Russian crude oil. (Phoenix Tankers)
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