Russia struggles to sell Pacific oil, 14 tankers stuck

CommoditiesHuman Interest

Reuters exclusively reported that more than a dozen tankers loaded with 10 million barrels of Russia’s Sokol grade crude oil have been stranded off the coast of South Korea for weeks, so far unsold due to U.S. sanctions and payment issues, according to two traders and shipping data. 

Market Impact

Difficulties in selling Sokol grade pose one of the most significant challenges Moscow has faced since the West imposed sanctions and one of the most serious disruptions to Russian oil exports in two years.

Article Tags

Topics of Interest: CommoditiesHuman Interest

Type: Reuters Best

Sectors: Commodities & Energy

Regions: Europe

Countries: Russia

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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