Reported about 13 hours ago
Following the U.S. imposing severe sanctions on Russian oil tankers, shippers are swiftly adjusting their supply chains. Notably, the tanker Bhilva made a U-turn from India towards Russia's Kozmino port, exemplifying how affected routes are adapting amid challenges. With sanctions disrupting logistics, freight rates have surged, raising concerns about the future of Russian crude exports, particularly to China. The International Energy Agency warned that these restrictions could severely impact supply networks, leading to significant shifts in shipping patterns.
Source: YAHOO