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2015-05-28 18:35:00

SWISS & RUSSIAN OIL

SWISS & RUSSIAN OIL

Swiss commodity trader Trafigura has become a major exporter of Russian oil as sanctions have squeezed Kremlin-backed companies' access to credit and led to a shake-up of how Moscow sells its crude.

Through a series of deals with Rosneft, the Russian state-controlled oil company, Trafigura exported almost 9m barrels of crude in April, worth more than $500m, according to port data compiled by Nefte Compass, an industry publication. Exports have continued at a broadly similar level in May.

This is a marked contrast to last year when Trafigura's deals with Rosneft rarely amounted to much more than 1m barrels a…

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Tags: ROSNEFT, OIL, TRAFIGURA, RUSSIA, SANCTIONS, US, PRICES

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