Russia’s Flagship Oil Above $60 Does Little to Halt G-7 Services
An oil pumping unit at a drilling site near Almetyevsk, Russia.
Photographer: Andrey Rudakov/Bloomberg
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The price of Russia’s flagship oil may have jumped above a Group of Seven imposed cap but that has done little to impede the provision of western services for the trade.
The number of ships calling at the nation’s ports that are either western owned or insured has fallen slightly since early July — before Urals rose above $60 — but they still represent a vital part of Moscow’s petroleum supply chain.