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.

EU sanctions and new US measures have led to a decline in Russian oil shipments via the Baltic Sea, impacting the shadow fleet and raising concerns about the condition of vessels operating in the region.

The UK government has announced sanctions against the Russian companies Gazprom Neft and PJSC Surgutneftegas. Source: European Pravda, citing a UK government press release Details: The official statement from London notes that these companies produce over 1 million barrels of oil per day between them,

Middlemen supplying Russian oil are not offering cargoes due to new U.S. sanctions targeting Russian producers, tankers and insurers, according to the finance chief at Indian refiner Bharat Petroleum.