Sanctions Or Not, Russian Crude Is Getting Hit

Sanctions on Russian banks and oligarchs have not halted Russian oil exports, with Indian refiners scooping up highly discounted Urals crude at a record pace, but Western buyers are hitting roadblocks with payments, shipping and banking guarantees, even though sanctions aren’t targeting the energy specifically.  On Thursday, Russian Urals crude was going for $11.60 per barrel below Dated Brent, representing the biggest discount in over a decade, based on Bloomberg data. Reuters reports that while Russia has maintained its crude oil and…