Oil products from russia are stuck at sea due to South Korean repression. This was reported by Bloomberg, according to UNN.
Details
South Korean repressions have become an obstacle to the import of russian cargoes with oil products, leading to their accumulation in the sea.
More than two million barrels of russian oil remain in tankers in the waters off Oman, and this number continues to grow. The result is increased pressure on the market, as South Korean buyers are becoming more cautious, avoiding direct imports from russia for fear of government control.
This situation arose after South Korea launched an investigation into oil imports in March, which led to an increase in imports from other countries such as Kuwait and Oman. However, this also stimulated the growth of russian oil supplies to China and Taiwan.
Although South Korean companies are allowed to import oil from russia, they must adhere to a price limit set by the G7, which makes it impossible to access Western services if the cost of the cargo exceeds a certain level.
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