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US Sanctions Push Up Oil Shipping Rates
Mint New Delhi
|January 15, 2025
Supertanker freight rates jumped after the US expanded sanctions on Russia's oil industry, sending traders rushing to book vessels to ship supply from other countries to China and India, shipbrokers and traders said.
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Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new US sanctions on Russian producers and tankers designed to curb the world No. 2 oil exporter's revenue due to its war in Ukraine.
This story is from the January 15, 2025 edition of Mint New Delhi.
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