By Nidhi Verma, Chen Aizhu, Siyi Liu and Florence Tan NEW DELHI/SINGAPORE (Reuters) - Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs,

India's oil import strategy is set for a major overhaul as the latest US sanctions on Russian producers and vessels threaten to disrupt supply lines. With nearly 36% of India's total oil imports coming from Russia last year,

The White House has announced new sanctions against Russian oil companies, which are expected to cost Russia billions of dollars per month. The restrictions target Gazprom Neft and Surgutneftegas, as well as 183 ships involved in oil exports.