Russian Oil Is Increasingly Becoming Untouchable for Traders
- U.S. potentially banning Russian oil imports is fanning fear
- Traders say criticism of Shell has made them even more wary
A crude oil processing facility in Nizhnekamsk, Russia.
Source: Bloomberg
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Russian oil is becoming even less welcome in the global petroleum market as traders fret over the possibility of a U.S.-led ban on the nation’s supplies, and a latest purchase by Shell Plc drew condemnation. TotalEnergies SE said its traders will no longer buy the nation’s crude.