Some stranded Russian Sokol oil cargoes begin to move to China and India, data shows
- Backlog of Sokol tankers has become major disruption to Russia’s oil trade since the West imposed sanctions on Moscow over military actions in Ukraine
- 2 of the tankers, NS Century and Nellis, are carrying a combined 2.2 million barrels of Sokol to Chinese ports, according to data analytics firm Kpler
Three tankers with Russian Sokol oil that had been stranded at sea due to payment problems and Western sanctions have started to move towards China and India, data from Kpler and LSEG showed on Monday.
The backlog of Sokol tankers has become the biggest disruptions to Russia’s oil trade since the West imposed sanctions on Moscow over its military actions in Ukraine.
More than 10 million barrels of Sokol have been floating in seaborne storage over the past three months due to payment difficulties and Western sanctions on shipping firms and vessels carrying the crude.
The three vessels – NS Century, NS Commander and Nellis – that had been sitting at sea since November – have finally moved, according to the data and traders. Russian state oil major Rosneft – the main exporter of the Sokol grade – did not respond to Reuters queries on Sokol oil sales.
NS Century and Nellis are carrying a combined 2.2 million barrels of Sokol to Chinese ports, according to data analytics firm Kpler. Both tankers are subject to fresh US sanctions for breaching a US$60 per barrel price cap on Russian oil.
