Russia’s oil market under pressure from tighter sanctions, refinery attacks

Oil Markets

In the midst of Vladimir Putin’s rubber-stamp re-election as Russian President through March 15-17, a tightening of G7 sanctions led by Washington has seen over 10 companies and dozens of vessels put on the sanctions list for price cap circumvention since October.

In addition, the election coincided with a significant increase in Ukrainian attacks on Russian refineries, adding further uncertainty to the world of Russian crude and oil products.

In this week’s Platts Oil Markets podcast, Francesco Di Salvo is joined by Principal Journalist Max Lin, Senior Editor Elza Turner and Associate Editor Luke Stuart to discuss the impact of both the new sanctions campaign and the newly damaged Russian oil infrastructure on prices for Russia's flagship exports.

Price assessments we talked about: AAWVH00 - Urals FOB Primorsk

Related content: FACTBOX: Russian refining outages mount under surge of Ukrainian drone attacks (subscribers) Greek operators regain share in Russian crude exports despite tighter sanctions Interactive: Seaborne trade in Russian oil under G7 price cap