The crude oil market is adapting quickly to the new sanctions against Russia's shadow fleet of tankers, albeit by creating both short- and medium-term winners and losers.

Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up  here .Russia is sending cargoes of sanctioned oil to India on tankers that have been blacklisted by the US Treasury — setting up an acid test of Moscow's ability to get around aggressive measures imposed by Washington earlier this month.

The latest U.S. sanctions on Russia’s oil and gas sector have raised the cost of chartering tankers not under restrictions so significantly that trade with China and India for delivery in March has stalled,

Russian officials say rescue workers have successfully removed almost 1,500 tons of oil stranded onboard a tanker that ran aground in December, sparking a devastating oil spill that has damaged miles of coastline along the Black Sea.

Trade for March-loading Russian oil in top buyer Asia has stalled as a wide price gap between buyers and sellers emerged in China after costs for chartering tankers unaffected by U.S. sanctions jumped,

Despite the latest round of sanctions by the US Treasury, Russia has managed to keep its four-week rolling average oil shipments fairly steady over the seven-day period to January 26

Russia has continued to send cargoes of crude oil to India on tankers that have been sanctioned by the US, Bloomberg reported on Tuesday. This situation presents a crucial test of Moscow’s ability to circumvent the stringent sanctions implemented by Washington earlier this month.