Tanker Sanctions Hit Russia’s Kozmino Oil Export Terminal

The Russian port of Kozmino is a reliable earner for the nation’s oil and gas sector, pumping out 900,000 barrels a day of premium Siberian crude for Chinese buyers. Kozmino’s ESPO blend has consistently sold at full-rate market prices despite two years of Western sanctions, with few interruptions. That now appears to be changing due to U.S. sanctions on the “dark fleet,” the collection of obscurely-owned, aging tankers that circumvent the G7 “price cap” on Russian crude exports. 

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