Russian Tanker Fleet Anchors Off Suez Canal Amid Ongoing Sanctions
Two tankers, carrying approximately 1.5 million barrels of Russian crude oil, have anchored off the Suez Canal‘s two entrances, a move experts interpret as a sign of Moscow’s difficulties in selling its oil following the imposition of stricter sanctions by Western nations last month.
The vessels, Sikar and Monte 1, loaded oil at Russia’s Primorsk port on the Baltic Sea in early October. However, they have remained anchored near the canal for over a week, according to tracking data from LSEG and OilX.
Sanctions Bite
The United States and European Union have imposed stricter sanctions on Russia’s petroleum sector, aiming to pressure Moscow into negotiating with Ukraine. The latest measures target Russia’s two largest oil companies, Rosneft and Lukoil, which together account for around 5% of global oil supply. As a result, Russian crude oil is trading in Asia at its lowest level against Brent crude in over a year, with Indian and Chinese refiners reportedly reducing their purchases.
Uncertainty Surrounds Tankers’ Fate
According to OilX and LSEG, the Sikar, which loaded oil on October 6, stopped near the Suez Canal‘s entrance on October 24 and has remained anchored since then. Its destination is Port Said. The Monte 1, which loaded oil on October 7, passed through the canal on October 30 and is currently anchored in the Red Sea.
Reuters was unable to identify either the buyer or seller of the oil carried by the tankers. Both vessels fly the Gambian flag, with the Sikar managed by Glory Shipping HK Ltd and the Monte 1 managed by Mariam Ship Management Service. Reuters was unable to contact anyone from the vessel management companies. The anchoring of the tankers underscores the growing pressure on Russia’s export pipeline and trade routes, as sanctions deter buyers and complicate delivery routes. It remains unclear what will happen to these vessels.
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Original Article: Κυρώσεις: Τάνκερ με ρωσικό πετρέλαιο ρίχνουν άγκυρα ανοιχτά του Σουέζ | ΤΟ ΒΗΜΑ — Tovima (Greek) | View English Translation