RUSSIA ramped up seaborne Urals oil exports to Asia to 50 per cent of the total over the October 1-20 period ahead of a December EU embargo on the state’s oil and products, according to traders and Refinitiv Eikon data, Reuters reported.
EU countries which have been primary consumers of Russian crude oil for decades will stop buying it from December 5 due to the embargo imposed by the bloc.
Bulgaria is the only state allowed to continue seaborne imports beyond the date, while Hungary, Slovakia and the Czech Republic will continue buying via pipeline.
Russian Urals oil shipments to Asia rose to 2.08 million tonnes during October 1-20, up eight per cent compared to the same period last month, according to Refinitiv Eikon data.
Overall oil exports and transit from Russia’s Western ports of Primorsk, Ust-Luga and Novorossiysk over the period rose by one per cent from the same period last month to 5.38 million tonnes.
