Photo: Sovcomflot (file photo)
Tankers with Russian oil stuck at sea: no buyers
About 62 million barrels of Russian Urals oil are in ships at sea: traders are trying to find buyers for oil, but there are no willing buyers.
About 62 million barrels of Russian Urals oil are in ships at sea: traders are trying to find buyers for oil, but there are no willing buyers. About it informs Reuters, citing data from the analytical company Vortexa.
This is reportedly a record amount of oil with no final destination. The volume of Urals crude oil at sea is three times the pre-war average, Vortexa says.
“The United States and other countries have banned imports of Russian oil and oil products due to the invasion of Ukraine, while others have avoided acquiring cargo for fear of future sanctions. The European Commission is considering an embargo on Russian oil,” the agency recalls.
Traders say some of the oil may be in transit to undisclosed buyers and some may be unsold cargo.
“Figures showing Russian exports are still relatively high don’t tell the full story. Russian oil continues to pile up in the sea,” said energy expert Clay Seigl.
Earlier it was reported that activists block tankers with Russian oil.