Russian shipping company Sovcomflot has reportedly resumed the practice of shuffling around sanctioned tankers in an effort to protect the business. A.
Russia's oil industry is starting to feel the pressure of Western sanctions as Indian refineries no longer accept tankers of Moscow's state-owned state-run Sovcomflot shipping company, Bloomberg reported on March 23.
Joe Biden: Washington imposed sanctions late last month on Russia s leading tanker group Sovcomflot on the two-year anniversary of Moscow s full scale invasion of Ukraine. It also designated 14 crude oil tankers as property in which Sovcomflot had an interest.
Russia Exports Of Oil: Sources said Indian refiners are concerned the latest sanctions will create "challenges" in getting vessels for Russian oil and could drive up freight rates. That may narrow the discount for the oil, which is bought from traders and Russian companies on a delivered basis.