Thursday, 30 January 2025

Focus on Sovcomflot

FILE PHOTO: A model of a pump jack is seen in front of the displayed sign "stop",  U.S. and Russia flag colours in this illustration taken March 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
BusinessEconomyMaritimeNewsOilPoliticsRegulationsTrade

Russia faces higher costs on sea-borne oil exports due to new US sanctions

US sanctions targeting Russia's shadow fleet and oil trade complicate Moscow's exports, raising global oil prices by six per cent.

FILE PHOTO: The logo of Russian state shipping company Sovcomflot is seen on the multifunctional icebreaking standby vessel "Yevgeny Primakov" moored in central St. Petersburg, Russia February 3, 2018. REUTERS/Anton Vaganov/File Photo
BusinessIndustryMaritimeNewsPoliticsTransport

Russia’s Sovcomflot blames earnings drop on Western sanctions

Sovcomflot said on Friday that Western sanctions on Russian oil tankers were limiting its financial performance, as it reported falling revenues and core...

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