Moscow looking for oil sanctions workaround

Russia anticipates a hit to the state budget from US sanctions against the country’s two largest oil producers over the war in Ukraine, though officials say they're confident they'll find ways to mitigate the impact of the measures.

- BLOOMBERG

Losses are inevitable, though hard to quantify at present, after US President Donald Trump's administration blacklisted Rosneft PJSC and Lukoil PJSC, according to an official close to the Kremlin. Russia will deploy its network of oil traders and shadow tanker fleet to limit the financial impact, the official said, asking not to be identified discussing sensitive issues. Russia has a month to prepare before the restrictions take full effect and it'll use that time to adapt to the new situation, said another Russian official, speaking on condition of anonymity to discuss policy matters. It’s possi