Russia Loses 60% of Its Seaborne Crude Market in Europe

  • 📰 BloombergNRG
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Russia has lost three-fifths of its seaborne crude sales to Europe, with eight weeks to go until sanctions choke off most of the rest

Russia has lost three-fifths of its seaborne crude sales in Europe since Moscow sent troops into Ukraine in February. That market is going to vanish almost completely eight weeks from now and the latest sanctions will make it very difficult to divert flows elsewhere.

Crude shipments to Europe averaged 630,000 barrels a day in the four weeks to Oct. 7, down from 1.62 million before the invasion. Tankers carrying Russia’s oil are now forced to spend four times as long making each delivery to India as they would previously have done shipping a cargo to the Netherlands, or 10 times as long as it would have taken to get to Gdansk in Poland.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 232. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

so what...

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Latest EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain Services – Regulation Bitcoin NewsThe new EU crypto sanctions are likely to spur the development of Russia’s digital asset market, according to a Russian lawmaker. Airdrop Don't be late 🤯 . How come no onee is talkingg about this . Ok, I only listen to ChiefraFba for signals!
Source: BTCTN - 🏆 531. / 51 Read more »