Soaring Tanker Costs Stall Russian Oil Trade in Asia After US Sanctions
New U.S. sanctions on Russian oil exports have caused tanker rates to surge and trade to freeze as shippers scramble for non-sanctioned vessels.
Dozens of Russian oil tankers anchored after latest US sanctions, Reuters reports
Since the United States announced a new package of sanctions on 10 January, at least 65 oil tankers have been anchored in various locations, including off the coasts of China and Russia. Source: Reuters Details: Five of these tankers remain off Chinese ports,
Russia Faces Higher Costs on Sea-Borne Oil Exports Due to New US Sanctions
"The most critical element of the sanctions was the new barriers for the sale of Russian crude oil and oil products on international markets, which will most likely lead to a temporary increase in the price discount for Russian liquid hydrocarbons while logistics and traders adapt to difficulties," Moscow-based Sinara Bank said in a note.
Sanctions tighten grip on Russian oil, pushing China and India away
As reported by Reuters, these sanctions have already had tangible effects. The main recipients of Russian oil, China and India, have suspended purchases from Russia because the de
China and India halt Russian oil purchases amid US sanctions – Reuters
China and India have halted trade in Russian oil due to US sanctions, which have caused a sharp rise in tanker shipping costs, Reuters reports. According to traders and shipping companies, trade in Russian oil that was loaded in March has stopped in Asia,
Russia Oil Trade to China, India Stalls as Sanctions Drive up Shipping Costs
Trade for March-loading Russian oil in top buyer Asia has stalled as a wide price gap between buyers and sellers emerged in China after costs for chartering tankers unaffected by U.S. sanctions jumped,
China and India pause Russian oil imports amid new US sanctions
In China, there is a lack of interest in March deliveries of oil from Russia following the imposition of new American sanctions on the Russian "shadow fleet", which have led to increased tanker transport costs not covered by these sanctions,
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Dozens of oil tankers drop anchor after latest US sanctions bite
At least 65 oil tankers have dropped anchor at multiple locations, including off the coasts of China and Russia, since the ...