Russian oil products trapped at sea by US sanctions, LSEG data shows

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Finance

Posted By Global Banking and Finance Review

Posted on January 15, 2025

Russian oil products trapped at sea by US sanctions, LSEG data shows

MOSCOW (Reuters) - Nearly 500,000 metric tons of Russian oil products are trapped on tankers hit by U.S. sanctions, LSEG data showed on Wednesday.

On Jan. 10, new Russia-related sanctions targeted more than 180 vessels and insurance companies, adding to the impact of similar restrictions imposed by United Kingdom and Europe Union.

The vessels under the latest U.S. sanctions include nine tankers that loaded oil products at Russian Baltic and Black Sea ports in December and January.

Four of them - Cup, Aquatica, Turaco and Onyx - are carrying in total around 280,000 tons of fuel oil, destined for India, Turkey and Singapore, LSEG data shows.

Another of the tankers - Ariadne - was loaded in December with about 35,000 tons of naphtha in the Russian Baltic port of Ust-Luga. It is drifting near Egyptian port of Port Said, according to shipping data.

Four other vessels from the sanctions list are carrying in total around 160,000 tons of ultra-low sulphur diesel and gasoil of Russian origin.

One of those cargoes - Pravasi - is discharging at the Brazilian port of Santos. Three other vessels - Symphony, Jupiter and Talisman - are on their way to Turkey, according to LSEG data.

Although there is a transition period, allowing the discharge of cargoes that has already been agreed, traders said concern about penalties has slowed activity.

Since the sanctions were announced, at least 65 oil tankers have dropped anchor at multiple locations, including off the coasts of China and Russia, ship tracking data showed.

(Reporting by Reuters. Editing by Barbara Lewis)

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