Big Oil Traders Stay Circumspect on Reviving Russia Dealings

The world’s biggest oil traders said they’re wary of trying to muscle back into Russian exports, a response that might concern US Treasury officials aiming to avoid any disruption to global crude supplies.

Vitol Group, the largest independent oil trader, doesn’t see getting back into the Russian market as a priority, Chief Executive Officer Russell Hardy said at the FT Commodities Global Summit in Lausanne, Switzerland on Tuesday. International sanctions permit the trade, albeit under conditions.