Russia Imposes Ban on Oil Loading in Black Sea Ports

The Russian Federation has temporarily banned foreign oil tankers from loading in its Black Sea ports, effectively blocking oil exports from Kazakhstan.

This is reported by Reuters.

New regulations in Russia prohibit foreign tankers from loading oil in key ports, affecting oil exports from Kazakhstan, which are routed through Russian terminals. The restrictions also impact Russian exports from the port of Novorossiysk. It is estimated that this could account for over 2% of global oil supplies.

President Vladimir Putin's decree requires foreign vessels to obtain permission from the FSB to enter ports. The new measures took effect immediately after the decree was published. The CPT company and the Ministry of Transport of Russia have declined to comment on the situation.

According to sources, the issue is expected to be resolved in the coming days. Meanwhile, oil exports through Russian terminals remained stable in July and August, though further restrictions could affect supplies.

Markets in the Mediterranean were already tense due to delays in loading oil from other regions and infrastructure damage from drone attacks in February.