Russia’s Oil Flows by Sea Surge But Cargoes Sit Undelivered
Ports in India and China refuse Russian oil that’s been on sanctioned ships
Russia shipped 3.09 million barrels a day in the four weeks to March 2, the most in three months.
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The amount of Russian crude oil that’s stuck at sea is rising as Joe Biden’s farewell sanctions on Moscow continue to snarl the nation's petroleum trade.
While exports from the country’s ports jumped to a three-month high, India’s refiners are so far refusing to accept cargoes that have been moved on sanctioned tankers, even if only for part of their voyage. Some Chinese ports appear to be taking the same approach.