Banks Shutdown Russian Shipping Credit
I"n the Black Sea, a Turkish-owned ship was hit by a bomb off the coast of Ukraine’s port city Odessa, prompting shipping companies to avoid calling at Black Sea ports."
Top Russian oil buyers include Western oil majors such as BP and Shell, ENI, TotalEnergies, Equinor, Chevron and Exxon Mobil and trading houses such as Vitol, Glencore, Trafigura, Gunvor and Mercuria.
The oil market is already suffering from tight supplies due to years of low investment and amid booming demand as pandemic-linked restrictions ease around the world.
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