At least four companies are seeking Russian cargoes that can load by December 5 and discharge before January 19, according to people familiar with the matter.That timeframe fits with a grace period being granted on oil purchases undera US-led measure to cap the price of Moscow's sales.
The price cap is scheduled to be implemented alongside European Union sanctions on Russian seaborne imports on Dec. 5, and is designed to keep crude flowing but crimp the Kremlin's revenues as it wages war in Ukraine. The cap level is set to be announced this week.
This story is from the November 22, 2022 edition of Financial Express Mumbai.
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This story is from the November 22, 2022 edition of Financial Express Mumbai.
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