U.S. sanctions – Oil & Gas 360

U.S. sanctions disrupt Chinese teapots’ purchases of Iranian oil

May 8, 2025

(Oil Price) – Independent Chinese refiners have started to experience difficulties in procuring cheap Iranian crude oil while others have stopped purchases from Iran, after the United States sanctioned two independent refiners in the past two months, sources with knowledge of the issue have told Reuters. Chinese crude oil imports topped 12 million barrels per day (bpd) in March, the highest volume

Latest US sanctions on Russia throw global oil trade into disarray

February 14, 2025

(BOE Report) – Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim of western

Supertanker rates double after U.S. sanctions on Russian oil trade

January 20, 2025

(Oil Price) – Supertanker rates surged in the aftermath of the U.S. sanctions on Russian oil trade and shadow fleet tankers, with rates for the vessels capable of shipping 2 million barrels of crude doubling in one week. The rates for supertankers, or very large crude carriers (VLCC), soared by 112% to $57,589 per day on the Middle East-to-China route, per

Oil rises as traders assess sanctions impact

January 15, 2025

(Investing) – Oil prices rose on Wednesday as the market focused on potential supply disruptions from U.S. sanctions on Russian energy companies and tankers carrying Russian oil. Brent crude futures were up 80 cents, or 1%, at $80.72 a barrel by 11:00 a.m. EST (1600 GMT). U.S. West Texas Intermediate crude was $1.14, or 1.47%, higher at $78.64. The latest round of

Analysis-Russia’s Arctic oil feels the chill from U.S. sanctions

January 14, 2025

(Investing) – MOSCOW – Russia’s vast Arctic oil business is facing major disruption from U.S. sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according to three sources familiar with its logistics. The sanctions unveiled on Friday are the toughest yet on Russia’s oil sector, targeting major producers Gazprom (MCX:GAZP) Neft and Surgutneftegas

Iran’s oil hit with harsher U.S. sanctions

October 14, 2024

(Oil & Gas 360) – Last Friday, the Biden administration unveiled its official response to the October 1 attack on Israel by Iran by imposing harsh sanctions on the National Iranian Oil Company. In addition to blocking oil exports, the increased sanctions include petrochemicals and elevated scrutiny and countermeasures to block “ghost ships” from the United Arab Emirates, Liberia, Hong Kong,

U.S. sanctions on Iran to expand

October 14, 2024

(World Oil) – The U.S. broadened the scope of its sanctions on Iran’s oil and gas sectors in response to a ballistic-missile attack on Israel, ramping up economic pressure on Tehran ahead of Israeli retaliation that’s expected any day. Under the action announced Friday, the Treasury Department invoked a Trump administration-era executive order that allowed for sanctions on any area of the Iranian

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