Russian oil is becoming even less welcome in the global petroleum market, as traders fret over the possibility of a U.S.-led ban on supplies from the country and a recent purchase by Shell PLC drew condemnation. TotalEnergies SE has said its traders will no longer buy Russian crude.
U.S. lawmakers have announced the outline of bipartisan legislation to bar imports of Russian oil into the U.S., though European Union governments are divided over whether to join the effort. Traders who handle Russian crude — spanning both Europe and Asia — said the possibility of a ban, in conjunction with the response to Shell buying Russian crude on Friday, has made the market more wary of touching Russian barrels.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.