The US imposes new sanctions against the Russian oil industry: what will change in the global market
Kyiv • UNN
The USA is imposing sweeping sanctions against the Russian oil industry, including 180 vessels and leading companies. Against the backdrop of these restrictions, global oil prices have risen to their highest level since October.
The United States is imposing the toughest sanctions on the Russian oil industry, according to a document circulating among traders in Europe and Asia from the US Treasury. Against the backdrop of reports of sanctions, global oil prices rose by 3% on Friday. This is reported by Reuters, reports UNN.
The sanctions list includes about 180 vessels, dozens of traders, two major oil companies and some senior executives of the Russian oil industry.
Washington is imposing sanctions against the two largest oil companies "Gazprom Neft" and "Surgutneftegas", as well as the vessel insurance providers "Ingosstrakh" and "Alfastrakhovanie", which insure most of the vessels supplying Russian oil to India, according to the document.
The sanctions imposed on Russia for the war in Ukraine will lead to serious disruptions in the export of Russian oil to its main buyers - India and China, said sources in the Russian oil trade and in the Indian oil refining industry.
It is reported that against the background of the announcement of the introduction of sanctions, Brent crude oil futures rose in London to $80.54, which is the highest since October.
Addition
Indian and Chinese oil refineries have become the largest buyers of Russian oil after the United States, the European Union and their allies imposed sanctions on the Russian energy sector following Russia's invasion of Ukraine in 2022. Russia pumps about 10% of the world's oil.
Russian companies have adapted to buy their own fleet of tankers and insure them in Russia, rather than through the Western vessel insurance system.
So far, hundreds of vessels and many Russian oil traders have avoided the toughest US sanctions, as the Biden administration has tried to strike a balance between the need to tighten measures and the risk of rising global oil prices.
