Leading global oil traders plan to reduce their oil purchases from Russian companies from May 15, the agency reported. Reuters.
Singapore-based oil trader Trafigura has announced its intention to “fully comply” with the sanctions imposed on Russia from May 15 and reduce trade volumes, according to the agency’s sources.
Another oil trader – the Swiss-Dutch Vitol Group – said it would cut oil purchases “in the second quarter as current contractual obligations decrease”. At the same time, the company did not specify specific dates.
Reuters stated that the European Union did not impose a ban on the purchase of Russian oil due to the lack of alternatives in some European countries. But European companies are phasing out oil purchases from Russia, trying to “comply with the promises of current EU sanctions” aimed at limiting Russia’s access to the international financial system.
Previously, Shell adjustments they agreed to buy oil from Russia if at least half of their contracts were mixed with oil from another country.