Supertanker freight rates have surged after the US expanded sanctions on Russia's oil industry, causing traders to seek alternative fuel supplies from other countries. Chinese and Indian refiners are particularly affected by the new US sanctions on Russian producers and tankers, as they adapt to the restrictions and look for new sources of oil. The sanctions have also impacted tankers involved in shipping Russian, Venezuelan, and Iranian oil, with an estimated 35% of the shadow fleet tankers being hit by sanctions. Freight rates for Very Large Crude Carriers (VLCCs) have jumped, with Unipec, the trading arm of Sinopec, chartering several supertankers and booking eight tankers to ship oil from the Middle East since Friday.