China Rejects Russian Oil Tankers Amid New US Sanctions
Three tankers carrying over 2 million barrels of Russian ESPO crude are idling off the coast of eastern China, unable to unload their cargo. This delay follows the US imposition of new sanctions on major Russian oil companies and associated entities, including ship insurers. The impacted vessels, Huihai Pacific, Mermar, and Olia, were scheduled to offload at Shandong ports but were refused entry following a directive from Shandong Port Group. These actions represent a significant escalation in efforts to restrict Russian oil exports since the Ukraine invasion.
John Q. Hosedrinker