Russia's vast Arctic oil business is facing major disruption from U.S. sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according to three sources familiar with its logistics.

STORY: Chinese and Indian refiners are scouring the globe for supplies of crude, according to traders speaking to Reuters..It follows a move by the US last week to impose sanctions on Russian oil producers Gazprom Neft and Surgutneftegas.

India is set to reject oil tankers sanctioned by the US for their role in moving cargoes for Russia, another example of impact that Washington’s measures are having on the global oil market.