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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Russian Tanker Makes Secret Cargo Switch to Evade Sanctions
The first Russian oil tanker attempting to deliver crude while under US sanctions made a secret STS transfer, a sign of the measures the Kremlin is taking to undermine the sanctions regime, Bloomberg said.
- The SCF Primorye was sanctioned by the US Treasury in October and hadn’t loaded oil again in six months.
- The tanker since loaded a Urals cargo from the port of Novorossiysk in late April, transporting it 7.5k miles to 70 miles east of Singapore.
- The tanker then vanished from automatic identification systems. However, satellite imagery shows that the ship moved its cargo onto another vessel, the Ocean Hermana on June 3.
- This transfer would, in theory, help the buyer to distance themselves from the sanctioned vessel.
- The Ocean Hermana is owned by an Indian registered company and has been used to shuttle cargoes from the Malacca Strait to ports in China.
- The cargo will most likely be taken to a refinery in China.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.