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.
US sanctions drive up freight costs for Russian ESPO blend oil
Data and trader insights reveal that freight rates for Russian ESPO Blend oil from the Far Eastern port of Kozmino have surged fivefold, according to a Reuters report. This increase is attributed to a scarcity of vessels following new US sanctions that have reduced tanker availability in the market.
Russia's Baltic Oil Shipments Drop 10% After EU sanctions
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.
Middlemen Have Halted Russian Oil Cargo Offers After US Sanctions, Indian Refiner Says
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.
Why Indian refiners can’t access Russian oil cargoes
The recent implementation of new US sanctions targeting Russian oil producers, tankers, and insurers has created a disruption in the supply chain. Middlemen who were previously involved in supplying Russian oil to Indian refiners,
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