Russia News

Western sanctions imposed on Russia for invading Ukraine and aimed at cutting its oil revenues have led to the rise of a vast "shadow fleet" of tankers helping Moscow keep its crude exports flowing.Here are some key points about these unregulated vessels.WHY IS THIS FLEET IN THE NEWS?Estonia on Tuesday tried to stop an oil tanker, which the UK sanctioned last week, for sailing without a flag against maritime rules, in international waters between Estonia and Finland in the Baltic Sea…

India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market.India is the top buyer of Russian seaborne oil after China since Western nations shunned purchases and imposed sanctions on Moscow for its military action in Ukraine.With the granting of the permits to Sberbank Insurance, Ugoria Insurance Group and ASTK Insurance Company…

Russia's seaborne diesel and gasoil exports fell in April as refineries carried out seasonal maintenance and the industry held back some supplies for expected domestic demand growth over the summer months, according to LSEG data and market sources.In total, diesel and gasoil exports from Russian ports fell to about 3.3 million metric tons, down 10% from March, Reuters calculations based on LSEG and market sources data showed.Turkey and Brazil remained the main importers of Russian diesel and gasoil in April, shipping data shows.Diesel and gasoil exports from Russian ports to Turkey rose last m

Three more Russian insurers, including a subsidiary of top lender Sberbank, have asked India for approval to provide marine insurance for oil shipments sent to Indian ports, two sources with knowledge of the matter said, as Moscow looks to maintain deliveries despite Western sanctions.India has already approved five insurers from Russia, which has no insurance firms in the International Group of P&I Clubs, which provides liability cover for personal injury or environmental clean…

Russia’s Arctic oil exports to China are set to rise sharply this month buoyed by a jump in ship-to-ship transfers at sea to ensure tankers pulling into port are not on U.S. sanctions lists, according to traders and data from Vortexa.The Arctic oil business accounts for a tenth of Russia's seaborne oil exports which were hit with widened U.S. sanctions in January on nearly all tankers carrying crude oil grades such as ARCO and Novy Port and on Russian producer Gazprom Neft.To evade the curbs…

Turkey's largest oil refiner Tupras has returned to buying Russian Urals crude cargoes, after it stopped doing so earlier this year due to stronger U.S. sanctions on Moscow, according to three trading sources and shipping data.Tupras did not immediately reply to a Reuters request for comment.The three sources said Tupras resumed its purchases after prices for Urals crude fell to its lowest levels since 2023, earlier this month, dropping comfortably below a G7 price cap level of $60 a barrel.The price cap imposed by the Group of Seven countries…

A German court will weigh a request to release a seized oil tanker that is believed to be part of a so-called shadow fleet used by Russia to circumvent oil sanctions, Germany's finance ministry said on Monday.The Panama-flagged vessel, the Eventin, was found drifting out of control off Germany's Baltic Sea coast in January.

A Russian court overturned on Monday a decision by a regulator to suspend the operation of an oil berth at the Black Sea port of Novorossiisk controlled by Transneft, an industry source told Reuters.Transneft said last week it had suspended mooring number 8 at Novorossiisk for 90 days after a snap inspection by a transport watchdog.The Novorossiisk Commercial Sea Port (NCSP) is one of Russia's largest export outlets and the closure of one mooring is unlikely to affect its operations significantly.The source said the port was fined 200,000 roubles ($2,322) for unspecified irregularities.

The Caspian Pipeline Consortium (CPC) said on Friday that a Russian court ruled that its Black Sea export terminal facilities should not be suspended, in a major victory for the Western-backed consortium.The decision looks set to avert a potential fall in Kazakhstan's oil production and supplies via the CPC, which accounts for around 80% of the country's oil exports.Industry sources told Reuters about a flurry of diplomatic activity over the pipeline's operations between Russia and Kazakhstan before the court ruling.Russia's oil pipeline monopoly Transneft said on Thursday that its head…

Russia's seaborne diesel and gasoil exports fell in March after unplanned maintenance on local refineries, LSEG and market sources data showed.Drone attacks in January and February hit Russian refineries owned by Rosneft at Ryazan, Syzran and Saratov, as well as Lukoil's Volgograd refinery.Traders said the resulting fall in processing led to lower oil products exports in March.In total, diesel and gasoil exports from Russian ports fell to about 3.8 million metric tons, down 5% from February, Reuters calculations based on LSEG and market sources data showed.Turkey and Brazil remained the main i

An ageing tanker loaded with Russian oil that was barred by Indian authorities is transferring its cargo to a second ship to complete the delivery, according to two sources and ship tracking data.The Andaman Skies is transferring its cargo of crude oil to the Sao Tome and Principe-flagged vessel Ozanno, the sources said.While many buyers have shunned Russian oil since Moscow's invasion of Ukraine in 2022, India and China have remained keen buyers. India is the biggest buyer of seaborne Russian crude…

The insurance issued to dozens of ageing oil tankers used by Russia to skirt international sanctions was bogus, according to Norwegian authorities now investigating the small firm behind the forged documents.Norway-registered Romarine AS purported to be an insurance provider with a website listing dozens of tankers believed to be part of Russia's shadow fleet, including vessels under Western sanctions.However, the company was not registered as an insurance provider by Norway's Financial Supervisory Authority (FSA), the FSA said.Western nations have imposed sanctions on hundreds of ships they suspect Russia is using to avoid price cap restrictions on exports of crude oil and other cargoes.Such vessels are not regulated or covered by conventional Western insurers…

Russia's leading tanker group Sovcomflot's saw transportation volumes drop around 16% to 63 million metric tons last year compared to 2023, Russian news agency Interfax reported on Friday, citing the group's CEO Igor Tonkovidov as saying.The United States and the European Union imposed sanctions on state-controlled Sovcomflot and its fleet in 2024 in an effort to reduce Russia's revenue from oil sales that it can use to finance its war in Ukraine. The company's net profit dropped by 55% to $424 million last year.Sovcomflot hopes that the transportation volume of oil…

In a stark address to the U.S. Senate, Senator Roger Wicker (R-Miss.), Chairman of the Senate Armed Services Committee, delivered a firm warning to American policymakers and defense stakeholders: Russian President Vladimir Putin cannot be trusted to negotiate a legitimate or lasting peace in Ukraine.Speaking amid ongoing peace talks in Riyadh and growing speculation about sanctions relief, Wicker sought to dispel any optimism about the Kremlin’s intentions. “President Putin values peace as little as any piece of shredded paper he would deceitfully sign,” Wicker said.

Russia sees scope for international investors, including from the Global South, to help develop its Arctic region, a senior official said on Wednesday.President Vladimir Putin is keen to ramp up commerce via the Northern Sea Route through Arctic waters as Russia shifts trade towards Asia and away from Europe because of Western sanctions.Focus on the strategic importance of the Arctic for mining, shipping and international security has increased sharply because of repeated statements by U.S.

Indian port authorities denied entry to an ageing tanker loaded with Russian crude on Thursday due to inadequate documentation, sources familiar with the matter said, an unusual move that indicates tightened scrutiny of vessels carrying Russian oil.India is the biggest buyer of seaborne Russian crude. Russian oil accounted for about 35% of overall crude imports in 2024 by India, the world's third biggest oil importer and consumer.The Tanzania-flagged Andaman Skies, carrying about 100…

Russia's liquefied natural gas plant Yamal LNG, led by Novatek, has intensified LNG ship-to-ship transfers in the Murmansk region using four gas tankers at the same time, ship-tracking LSEG data showed on Monday.Novatek resorted to using four tankers after restrictions on the transshipment of Russian LNG at European ports for sale in third countries came into force last week.According to LSEG data, Lena River and Clean Vision are near the island of Kildin in the Barents Sea, where…

The European Union's ban on re-exporting Russian liquefied natural gas (LNG) via EU ports, which aims to reduce Moscow's revenues after its invasion of Ukraine, came into effect this week.The ban, which prohibits the reloading of Russian cargoes at EU ports for export to third countries, was imposed in June 2024, with a moratorium until March 26, 2025 for contracts signed before June 25 last year.Gas market experts say the measure would have little impact as trans-shipments via EU ports to Asia represent less than 10% of total Russian LNG exports…

Russia said on Tuesday the U.S. had agreed to help it lift restrictions on food, fertilizer and shipping companies in exchange for agreeing to a maritime security deal in the Black Sea.The United States further said it had also agreed with Russia and Ukraine to implement a ban on military strikes on each other's energy installations.If implemented, the deals would represent the clearest progress yet towards a wider ceasefire that Washington sees as a stepping stone towards peace…

The United States reached deals on Tuesday with Ukraine and Russia on a truce in the Black Sea and a pause in attacks on energy facilities, with Washington also pledging to push for the lifting of some financial sanctions against Moscow.The separate agreements are the first formal commitments by the warring sides since the inauguration of Donald Trump, who is pushing for an end to the war and a rapid rapprochement with Moscow that has alarmed Kyiv and European countries.The U.S.

Ukraine and Russia accused one another on Wednesday of flouting a truce on energy strikes brokered by the United States, and conditions set by Russia cast doubt over a planned ceasefire in the Black Sea.The United States announced separate agreements with Ukraine and Russia on Tuesday to pause their strikes in the Black Sea and against each other's energy targets, but the rhetoric from Moscow and Kyiv suggested they remained far apart.President Volodymyr Zelenskiy said the U.S. side told Kyiv the deals were effective as soon as they were announced.

The United States will evaluate demands made by Russia after Moscow had agreed "in principle" to a U.S.-brokered ceasefire with Ukraine in the Black Sea to allow safe navigation, U.S. Secretary of State Marco Rubio said on Wednesday.The U.S. announced separate Black Sea agreements with Ukraine and Russia on Tuesday - following talks in Saudi Arabia - to ensure safe navigation, stop attacks, and prevent the use of commercial vessels for military purposes.Russia invaded Ukraine in February 2022. U.S.

Two tankers hit by U.S. sanctions are due to offload Russian Arctic Oil in Syria for the first time, days after Moscow made its first known delivery of diesel there in more than a decade, according to LSEG data, a government source and local TV.One of the tankers, Aquatica, with some 100,000 tons of Russian oil onboard, is set to offload in Baniyas port soon, according to a government source and pro-government Syria TV.The vessel arrived on Thursday, but has yet to offload, according to the TV report and the government source.The second tanker…