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.

State-run refiners plan to renew or enhance optional volumes under existing contracts, struck on a fiscal basis, despite higher sourcing costs

"This time it's different" is a well-worn cliché that seems to be getting another whirl with the latest U.S. sanctions against Russia's crude oil exports.