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 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.

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.

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.

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 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.

India's Russian oil imports are set to hit their lowest in at least three years in December, down from multi-month highs in November, as refiners turned to alternatives to avoid breaching Western sanctions,

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.

The US government jolted energy markets when it announced sanctions on Russia’s two biggest crude oil producers on Oct. 22. All eyes are now on how global oil supply and prices will react after the measures took effect on Nov.

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.

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.

Russian state oil and gas revenue may fall in November by around 35% from the corresponding month in 2024 to 520 billion roubles ($6.59 billion) due to cheaper oil and a stronger local currency, Reuters calculations showed on Monday.