【U.S. Sanctions on the Moon, Russian Seaborne Oil One-Third Stuck on Ships Unable to Unload】
According to the latest report released by JPMorgan, due to the U.S. threat of sanctions against Russian oil companies and Lukoil, the unloading speed of Russian seaborne oil has slowed down, with approximately 1.4 million barrels of Russian oil still stuck on tankers each day, which is almost one-third of the country's seaborne oil exports.
According to a Reuters report, the U.S. Treasury has set November 21 as the deadline, and once this time point is exceeded, the U.S. will directly impose sanctions, making transactions between external buyers and these two major Russian oil giants very difficult. According to JPMorgan, although the sanction date is November 21, the transportation and unloading of Russian crude oil at sea has already become very difficult now, with a lot of oil remaining on tankers.
JPMorgan also stated further: Due to Washington's financial sanctions leading to increased potential transaction costs, Asian customers have significantly reduced their purchase volume of Russian oil in December, with Indian refineries being a typical example, as they have gradually stated that they will comply with Western sanctions.
Additionally, traders in the international crude oil market told Reuters that many ships loading at Russian western ports such as Primorsk, Ust-Luga, and Novorossiysk have nominal destinations of Suez Port or the Suez Canal, but in fact, their main destination is Asian ports. Due to the risk of Western sanctions, the price of Russian crude oil in Asia is at the lowest discount level in the past year.
Original: www.toutiao.com/article/1848751886309379/
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