Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade
- Asian buyers now trying to back out of purchases of Sokol
- Variety from Russian Far East popular with North Asia refiners
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Asian oil refiners are shunning a major export grade from the Russian Far East due to sanctions on a tanker company that ships the cargoes.
Buyers are now trying to back out of purchases of Sokol, which was sold out for May-loading two weeks ago, said people with knowledge of the matter. At least one shipment of the variety for loading in end-May has been canceled, with several other refiners trying to wind back purchases for June, said the people who asked not to be named due to the sensitivity of the information.