This Is How Russian Oil Is Finding Its Way To Customers

OilPrice.com: Here's How Russian Crude Is Finding Its Way To Customers 

* Refinitiv Eikon: Greece has emerged as a new hub for Russian oil via ship-to-ship (STS) loadings. 

* Vortexa: Russia has been increasing fuel exports to Greece, with shipments set to jump to about 2.5 million barrels. 

* Trading Russian crude and oil products remain legal for now. 

Small tankers and ship-to-ship transfers are being used to keep the flow of Russian oil to China steady, Bloomberg reported this week, citing sources from the brokering industry.

Typically, the report notes, Russian ESPO crude is shipped directly to China. But lately, buyers are opting for loading the crude on small tankers and shipping it to South Korean waters, from where it is loaded onto supertankers and then taken to China. 

According to Bloomberg’s sources, the change is a result of reprioritization among buyers as shipowners avoid loading Russian oil because of Western sanctions. Currently, almost all of the ESPO available for sale is going to China.  

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WNU Editor: As high as oil prices are right now, I shudder when I think on what would happen if all Russia oil and energy exports are banned. The cost of oil would then go through the roof. 

This Is How Russian Oil Is Finding Its Way To Customers  

Russia's Oil Export Loophole Runs Through Greece -- OilPrice.com  

China is shuttling small ships to tankers at sea to transport cheap Russian oil amid sanctions, report says -- Insider  

Rare Ship-to-Ship Transfers Keep Oil Moving From Russia to China -- Bloomberg  

An oil trading company named Bellatrix is one of the under-the-radar firms that has taken over from the big names in shipping Russian crude -- Insider