Russia Struggles to Offload Oil Cargoes Due to U.S. Sanctions

Tankers continue to load crude oil from Russia but many of these are seeing difficulty in delivering the cargo to ports as buyers avoid supply chain sanctioned by the United States, according to data compiled by Bloomberg. The Biden Administration’s farewell sanctions on Russian oil trade were the most aggressive yet and sanctioned dozens of vessels that Russia used to ship the ESPO crude blend from the Far Eastern port of Kozmino to China’s independent refiners. Many of the vessels, specialized tankers, and shuttle tankers…