Russia's vast Arctic oil business is facing major disruption from U.S. sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according to three sources familiar with its logistics.

The Group of Seven democracies have sought to crimp Russia’s oil export earnings that help fund the war against Ukraine.

India intends to abandon oil tankers that have been sanctioned by the United States because of their role in transporting goods for Russia, which is another example of the impact of Washington's measures on the global oil market.