MOSCOW (Reuters) -Russia sees scope to boost oil exports to China and to deepen cooperation on supplies of liquefied natural gas, Russian Deputy Prime Minister Alexander Novak said on Tuesday in Beijing.

A Treasury Department analysis indicates that new U.S. sanctions on Russian oil producers have sent prices there tumbling, choking off a key revenue source that Russia has used to fund its war in Ukraine.

A sanctioned Russian oil tanker has reportedly reached Venezuela following several route changes and attempts to evade U.S. naval interception in the Caribbean Sea. The ship anchored at Puerto La Cruz, a port city on the South American country's northeastern coast, according to global shipping news outlets.

India's oil imports from Russia in November are set to hit their highest level in five months, preliminary data from Kpler shows, as refiners rushed to secure barrels ahead of a U.S. deadline to end transactions with sanctioned Russian oil producers.

Russia’s seaborne crude shipments retreated for a fifth week to deepen a trend that began when the US sanctioned its two biggest oil companies. The move has also sent prices tumbling to tighten the squeeze on Moscow’s revenues.

The sanctions were intended to force Russian President Vladimir Putin to the negotiating table and bring an end to the war that began when Russia invaded in February 2022. U.S. officials on Thursday pointed to the price of key grades of Russian oil now selling at multiyear lows, citing publicly available data.

Russia's seaborne exports are declining in November as US sanctions against the country’s two largest oil producers Rosneft and Lukoil are forcing key customers in India, China and Turkey to comply and cut imports of Russian barrels. Analysts expect December and January oil exports to be even lower.

Russian oil and gas revenues are expected to fall by 35% year-over-year in November, driven by a widening discount on Urals crude and the impact of recent US sanctions on major oil exporters.

India has been snapping up discounted Russian crude for three years, but U.S. sanctions that take effect on Friday are expected to end the lucrative trade.

MOSCOW (Reuters) -Here is a look at how U.S. sanctions on Russian oil firms Rosneft and Lukoil, which take effect at 1701 GMT on Friday, may affect the Russian foreign currency market. Ahead of the deadline,

Russia's fourth-largest oil processor, Rosneft’s Ryazan refinery, has suspended crude processing until at least December 1 after a Ukrainian drone strike severely damaged its main crude distillation unit.