Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers that are designed to curb the revenues of the world's second-largest oil exporter.

STORY: Chinese and Indian refiners are scouring the globe for supplies of crude, according to traders speaking to Reuters..It follows a move by the US last week to impose sanctions on Russian oil producers Gazprom Neft and Surgutneftegas.

The value of China's imports and exports with Russia reached 1.74 trillion yuan ($237 billion) in 2024, a record high, Chinese customs data showed on Monday, as the two countries' leaders hailed bilateral relations.

China-Russia trade hits record high at $244.8 billion in 2024, amid deepening political ties and Western sanctions.

Trade between China and Russia reached a new record high last year, official data shared by Chinese customs showed Monday, reflecting strong economic

The Biden administration is set to announce a new rule to regulate the export of advanced AI chips, aiming to restrict access for nations like China while trading with 18 key allies and partners.

The Biden administration is proposing a new framework for the exporting of the advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about t