Sanctions evasion

Two sanctioned tankers from Russia’s shadow fleet exploded near Turkey’s Black Sea coast, with crews reporting an external impact as authorities launched rescue operations and investigated the cause.

Despite media speculation about India avoiding Russian oil, monitoring shows record Russian exports and overloaded ports, as buyers rush to secure crude before future sanctions take effect.

Swiss oil trader Gunvor has withdrawn from purchasing Lukoil’s international assets after a U.S. statement calling it a “Kremlin puppet.”