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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.
OIL
Almost 5mn barrels of Russia’s Sokol grade crude is idling in the past four weeks miles from their destinations in India, with one cargo waiting for over a month, likely over increased efforts by the US to sanction vessels in breach with the G7 price cap on Russian crude according to Bloomberg.
- The US Treasury sanctioned its first two ships tied to the Russian oil trade in mid-October. It followed with another three in mid-November and a further three at the start of December. Six of the eight sanctioned vessels are owned by Russia’s state tanker company Sovcomflot PJSC.
- One of the ships on the Treasury list is the NS Century, which was hauling Sokol crude to the Indian port of Vadinar.
- Five of the six tankers, each hauling around 700k barrels of crude pumped from fields off the east coast of Sakhalin Island in Russia’s Far East, are owned by Sovcomflot.
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.
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