Asian Buyers Fear That Sanctions On Russia Could Complicate Oil Trade

Oil traders in Asia—except in China—are alarmed that they could soon struggle to procure enough crude if the West imposes sanctions on Russian oil trade or cuts Russia from the SWIFT banking system, market participants told Energy Intelligence after Russia attacked Ukraine early on Thursday. The general perception among Asian oil traders is that the situation is "quite complicated," one trader told Energy Intelligence. Two-thirds of Russia's crude oil exports are seaborne, from ports in the Black Sea and the Baltic Sea.    …