Oil Tanker Owners Avoid Russian Crude Amid Ukraine Crisis
- Russia sends about two thirds of its crude exports by sea
- Owners take cautious approach after Russia invaded Ukraine
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Oil tanker owners are avoiding offering their ships to collect crude from Russia as they wait to see what sanctions the country might face after invading Ukraine.
Two shipbrokers and three owners said owners are currently unwilling to make offers to collect Russian barrels. The owners said that oil-freight transportation costs are also very low anyway, making it even more unattractive to do so.