Rosneft Moves Into Tanker Charter Business As EU Ban Draws Closer

With the European Union set to enact a price cap for Russian oil exports via maritime transport, Russia’s biggest oil exporter, Rosneft, has expanded its tanker chartering business to ease oil shipments for buyers Reuters reports.  Rosneft, which produces more than 40% of Russian oil, sells its oil at the port of loading, meaning the buyer has to hire tankers and handle freight and insurance costs. However, with Western sanctions looming, Rosneft’s customers are asking the company to handle delivery to the final destination meaning…