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Flood of Russian Crude Heads to Asia After EU Ban Kicks In

Almost 90% of Russia’s seaborne crude headed to Asia in the week to Dec. 9

Russia has all but ceased to be a supplier of crude oil to Europe.

A European Union ban on imports of Russian crude by sea came into force on Dec. 5, effectively closing off its closest oil market, which took roughly half the country’s supplies at the start of the year. With the exception of a small volume delivered to Bulgaria, seaborne flows of Russian crude to the bloc have halted.