Russia’s Crude Shipments Rebound Even as Sanctions Snare Tankers
Tanker bans are complicating some flows without yet hitting overall export levels
Russia’s crude exports recovered half of the previous week’s drop.
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Russia’s seaborne crude exports clawed back about half of the previous week’s losses even though there’s growing evidence that sanctions are finally starting to stymie Moscow’s oil supply chain.
The rebound came after maintenance work ended at Russia’s most important Baltic export terminal and storms that had repeatedly hit its main Pacific port in recent weeks began to abate. Those earlier disruptions left four-week average flows slightly below Russia’s first-quarter export target, tanker-tracking data compiled by Bloomberg show.