Russian oil buyers have faced huge difficulties over payments and vessel availability following Western sanctions on Moscow over investment in Ukraine, traders said.
The West has introduced a wide range of sanctions, including on the banking sector, following Russia’s invasion of Ukraine on Thursday.
Russia describes its action as “special operation” to disarm Ukraine.
Traders said buyers of Russian oil had struggled to find ships in the Baltic Sea to load after March 10, while also reporting that freight costs for delivery of Russian oil had risen fivefold in the Black Sea. in a week.
Maersk
For its part, the shipping group Maersk is studying the possibility of suspending all container reservations with origin and destination in Russia in preparation for the sanctions and restrictions imposed against the country.
“Our preparations include a possible suspension of Maersk bookings to and from Russia by sea and land.”, Maersk said in a statement.
Source: Gestion
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
