Around half a million tonnes of Russian oil stranded at sea

According to LSEG data, approximately 500,000 tonnes of Russian petroleum products are stranded on tankers that have come under US sanctions. The data was published on Wednesday and corroborated information from the Reuters agency.

Sanctions complicate oil exports

New US sanctions introduced on 10 January affected more than 180 vessels and insurance companies, expanding existing restrictions established by the United Kingdom and the European Union. Among those sanctioned were nine tankers that loaded petroleum products at Russian ports on the Baltic and Black Seas in December and January.

Stranded cargoes and consequences

Four tankers, including Cup, Aquatica, Turaco and Onyx, are carrying approximately 280,000 tonnes of fuel oil intended for delivery to India, Turkey and Singapore. Meanwhile, the tanker Ariadne, which was loaded with 35,000 tonnes of oil at the Russian port of Ust-Luga in December, is currently in the area of the Egyptian port of Port Said.

In addition, four other sanctioned vessels are carrying around 160,000 tonnes of low-sulphur diesel fuel and gasoil. One of them, Pravasi, is being unloaded at the Brazilian port of Santos, while the others — "Simfoniya", "Yupiter" and "Talisman" — are heading to Turkey.

Unloading difficulties and reduced activity

Although there is a transition period for unloading previously agreed shipments, traders note that fears of punitive sanctions have significantly slowed activity in this sector.