Major processing plants are reportedly squeezing out smaller players for supplies from the sanctioned country China’s largest state-owned and private refineries are buying more Russian crude, driving up its price, and forcing smaller independent producers, known as ‘teapots’, to search for cheaper options, Reuters reported this week.

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Major shippers have stopped using the vital maritime route due to ongoing Houthi attacks Freight through the Suez Canal has plummeted by 45% in the two months since Houthi rebel attacks on vessels in the Red Sea forced shipping companies to divert shipments, sending shockwaves through global supply chains, the UN Conference on Trade and…