Russian oil exports hit by new sanctions, buyers retreat
In China, there are no buyers for March deliveries of oil from Russia after new American sanctions on Russia's "shadow fleet" led to increased tanker transport costs, which were not covered by these sanctions,
Russia oil sanctions create different winners at different times
The crude oil market is adapting quickly to the new sanctions against Russia's shadow fleet of tankers, albeit by creating both short- and medium-term winners and losers.
Russia Oil Trade to China, India Stalls as Sanctions Drive up Shipping Costs
In China, newly sanctioned tankers face delays offloading oil despite meeting waiver requirements. Three of them discharged Russian ESPO and Sokol crude during Jan. 15-17 while tanker Olia offloaded at Shandong's Yantai port on Sunday after carrying its ESPO cargo for nearly three weeks, according to LSEG data.
Russian oil freight rates soar on sanctions-driven tanker shortage
Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.
U.S. Sanctions Are Squeezing India's Russian Oil Imports
New US sanctions on Russian oil tankers and energy companies threaten India's access to cheap crude, potentially driving up inflation and disrupting the global oil market.
Russia defies US sanctions, sends sanctioned oil tankers to India
Russia has continued to send cargoes of crude oil to India on tankers that have been sanctioned by the US, Bloomberg reported on Tuesday.
China and India Suspend Russian Oil Trade Amid US Sanctions
Russian oil transactions from March are stalled in Asia as China and India navigate significant freight rate increases post US sanctions.
Soaring Tanker Costs Stall Russian Oil Trade in Asia After US Sanctions
New U.S. sanctions on Russian oil exports have caused tanker rates to surge and trade to freeze as shippers scramble for non-sanctioned vessels.
Russia on brink of economic ruin as India and China stop buying Kremlin's oil
Russia has suffered a major economic setback, after China and India halted their purchases of Kremlin oil. Oil and gas revenues are vital sources of revenue, accounting for between a third and half of Russia 's federal budget over the last decade. In particular, these revenues play a key role in helping Putin to finance his war in Ukraine.
Russian exports to Asia hit the wall as tanker rates and oil price soar US after sanctions
Offers for Espo crude exported from the key Russian Pacific port of Kozmino have spiked to premiums of between $3 and $5 a barrel to the ICE Brent benchmark on a delivered ex-ship basis (DES) to China after aframax spot rates trebled to more than $6.5m.
China and India halt Russian oil purchases amid US sanctions – Reuters
China and India have halted trade in Russian oil due to US sanctions, which have caused a sharp rise in tanker shipping costs, Reuters reports. According to traders and shipping companies, trade in Russian oil that was loaded in March has stopped in Asia,
Russian Oil Ships Hunt for New Flags to Hide From Sanctions
A chunk of Russia’s oil tanker fleet is being forced to change the flag they sail under as US and UK sanctions heap pressure ...
Russian Tanker Adrift off France Coast Sparks Alarm: 'Environmental Bomb'
A Russian oil tanker known as Unity has lost power and gone adrift in the NATO Lake while on its journey to Mangalore, India.