Russia Is Mostly Failing in Race to Find New Oil Markets
Moscow must redirect 1.4 million barrels a day of crude from Europe by year-end
Russia needs new markets for its crude.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Moscow has mostly failed to line up the fresh markets for its crude that it needs to secure by the time European Union sanctions on its seaborne exports come into effect on Dec. 5.
Beyond the three countries that stepped in initially — China, India and Turkey — other buyers haven’t materialized to any meaningful extent.