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Russia Oil Tankers Disrupted on US Sanctions Ramp-Up

OIL

There are growing signs that Russia’s oil flows may be facing disruption following a ramp-up in US sanctions, according to Bloomberg.

  • A total of 14 tankers moving Russian crude to India in the past month have either dithered, turned around, or switched off tracking equipment.
  • The 14 tankers have 11m bbl between them.
  • The signs of possible disruption follow the US treasury’s imposition of further sanctions on Russian oil and on state shipping company Sovcomflot. This was to combat Russia’s use of the ‘dark fleet’ to move its oil.
  • Many Sovcomflot tankers are still heading to India without interruption, including nine loaded with Urals, Bloomberg added.
  • India’s imports of Russian oil have fallen recently, which the Indian government said was due to higher prices and not payment logistics.
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