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NEWS: Tanker Liteyny Prospect, hit by sanctions, docks in China to offload Russian oil

Premium March 7, 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 Chen Aizhu and Florence Tan

The Russian tanker Liteyny Prospect, hit by sanctions, has docked at the Chinese port of Huanghua to discharge its 700,000-barrel Russian Sokol crude cargo, two sources familiar with the matter said, clearing part of a backlog of cargoes disrupted by sanctions on Moscow’s oil trade.

The tanker is one of six ships carrying Sokol crude, which India has not been able to import due to payment issues.

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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

 Premium

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

Regulatory Watch News

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