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NEWS: Second Russian tanker, hit by sanctions, docks at Chinese port to discharge crude

Premium March 13, 2024

Russian oil firms face delays of up to several months to be paid for crude and fuel as banks in China, Turkey and the United Arab Emirates (UAE) become more wary of US secondary sanctions, eight sources familiar with the matter said.

Payment delays reduce revenue to the Kremlin and make them erratic, allowing Washington to achieve its dual policy sanction goals - to disrupt money going to the Kremlin to punish it for the war in Ukraine while not interrupting global energy flows.

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REGULATORY INTELLIGENCE: Everything you need to know about Europe’s new AML laws and the Authority (AMLA) – all in one place

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NEWS: France, Ireland and Latvia called out by EU for AML failures

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NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

By Florence Tan

Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.

This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month. Last week, tanker Liteyny Prospect discharged its 700,000-barrel Sokol crude cargo at the Chinese port of Huanghua near Cangzhou city in Hebei province.

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Premium

REGULATORY INTELLIGENCE: Everything you need to know about Europe’s new AML laws and the Authority (AMLA) – all in one place

 Premium

NEWS: France, Ireland and Latvia called out by EU for AML failures

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NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

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