Russian seaborne oil exports suffered their biggest drop since November last week after the U.S. imposed sanctions on oil trade.
Russian seaborne oil exports: disruptions and volume drops
The less volatile four-week average of oil production fell below 3 million barrels a day for a fourth week, nearing a recent 16-month low, according to Bloomberg ship-tracking data.
Several signs of disruptions have emerged since the latest sanctions were announced:
Now watching
- tankers change direction;
- buyers seek new markets;
- there is a growing shortage of vessels not subject to sanctions that can load cargo in Kozmino, Russia's most important eastern port.
Such measures will have a particularly strong impact on Russia's Pacific cargo flows. In particular, the impact on volumes will depend on how strictly the sanctions are applied by the new administration in Washington.
The publication reports: India said it would allow sanctioned tankers booked before January 10, when the United States announced its latest measures, to unload at its ports until March 12.
Recall that the administration of US President Joe Biden announced new sanctions on January 10 to limit Russia's oil and gas revenues.
Subsequently, Reuters, citing its own source, reported that Russia's Antarctic oil industry had suffered a significant blow as a result of the sanctions USA.
