Russia bypasses Western sanctions on oil exports
The new way to the oil market lies through the port of Egypt. |
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The Profinance service reports that our country seems to have found a new way to get its oil to the market, bypassing Western sanctions hanging over it.
The cargo of about 700,000 barrels of oil was delivered to the Egyptian Al Hamra oil terminal on the Mediterranean coast in the early hours of July 24. Hours later, another vessel took some out of the port, which showed a noticeable impact on some or all of the oil in Russia, according to Bloomberg data.
The European Union ban on oil supplies from Moscow, as well as on the provision of insurance services and other transport services, is due to come into effect later this year, which will increase pressure on Russia to identify and test various deliveries to its cargo buyers. |
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