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Russian Ural Exports Hit Ahead of Oil Ban

OIL

With less than two weeks to go until European Union sanctions come into force, Russia has already lost more than 90% of its market in the bloc’s northern countries according to Bloomberg vessel tracking.

  • Russia shipped just 95,000 bpd to Rotterdam — its only remaining European destination for seaborne deliveries outside the Mediterranean/Black Sea basin — in the four weeks to Nov. 18.
  • That figure is down from more than 1.2mn bpd in February.
  • Three-quarters of the crude loaded at Russia’s Baltic ports is now headed to Asia.

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