| Reuters exclusively revealed that the United Arab Emirates has been taking more cargoes of Russian crude oil, according to ship tracking data and trading sources, in another example of how Western sanctions on Russia have adjusted traditional energy trade flows. Russia has been selling both crude and refined products at discounted prices after international sanctions over its invasion of Ukraine, and tanker tracking data indicates volumes have risen in the wake of Russia’s February 2022 invasion of Ukraine and the subsequent Western sanctions on Moscow. |
Energy
Russian crude oil heads to UAE as sanctions divert flows
06 March 2023, 2:16 pm 1 minute
Market Impact
The development highlights how Western sanctions on Russia have adjusted traditional energy trade flows and the growing cooperation between Russia and top Gulf oil producers, such as Saudi Arabia and the UAE.
Article Tags
Topics of Interest: Energy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Middle East
Countries: RussiaUAE
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
