Sanctions Begin To Bite Into Russian Oil Exports

The tightening sanctions on Russia's oil exports are raising freight costs for moving Russian crude and having India scrutinize deliveries to avoid opaque trades. The U.S. upped the ante in the sanctions game last month, and Russia may now have to work out new routes and ways to circumvent sanctions at a cost.   The sanctions' estimated direct cost to deliver Russian cargoes now is around 6-8% of the price of a barrel of crude leaving the western ports in Russia for Asia, according to data from commodity price reporting agency Argus crunched…