RUSSIA SANCTOINS: OIL TO U.S.
One of Russia's prized oils, facing increased competition in Asia, is traveling to a rather unlikely destination: the U.S. West Coast.
As the U.S. threatens PresidentVladimir Putin with further economic sanctions over the conflict in Ukraine, light Sokol oil from Russia's Far East is showing up in California for the first time in six years. Tankers have been carrying the crude to western states from Korea since May as Asia cherry-picks supplies from a growing pool of sources, including West Africa and Latin America, shipping data compiled by Bloomberg show.
Sokol's emergence underscores how oversupplied markets…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.