Russian Oil Exports Hit by Tightened Western Sanctions

Two tankers loaded with 1.5 million barrels of Russian crude have anchored near the Suez Canal, illustrating the logistical challenges Russia faces due to tightened Western sanctions.

Both vessels, Sikar and Monte 1, were filled from Russia's Primorsk port and have remained stationary, highlighting difficulties for Moscow in finding buyers after the U.S. and EU imposed new restrictions targeting leading Russian oil firms Rosneft and Lukoil.

The increasing sanctions pressure has resulted in Russian crude trading in Asia at significant discounts, with key refiners like India and China scaling back purchases. The situation signals intensifying strain on Russia’s oil export routes and markets.