Russia Flagship Oil Freight Soars After Biden Farewell Sanctions
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The premium shipowners are charging to haul Russia’s flagship oil is soaring as farewell sanctions imposed by the outgoing Biden administration continue to bite Moscow’s petroleum trade.
The price of carrying about 1 million barrels of Urals crude from Russia’s Black Sea port of Novorossiysk to the west coast of India is the most expensive since April, according to Argus Media.