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Trump's administration is tightening sanctions on Russia, targeting its oil trade with India and China. India, a major buyer of discounted Russian oil, faces new tariffs from the US, potentially adding billions to its oil bill. China, also a large importer of Russian oil, may be exempt due to its larger economic influence. The sanctions could significantly impact global oil prices and cause inflation, with analysts predicting a potential price surge if Russia's oil supply is disrupted. India might reduce, but not eliminate, its Russian oil imports. The situation creates geopolitical tensions and uncertainty in global energy markets.

Prepared by Christopher Adams and reviewed by editorial team.