With Russian oil increasingly under an embargo in all but name, the country is about to face its biggest hurdle since war broke out: the sale of of tens of millions of barrels of crude.
On Saturday, the first round of a giant tender for as much as 83 million barrels of the country’s crude issued by oil giant Rosneft Oil Co. PJSC will close. The offer is for supplies of its flagship Urals grade from April to October.
Oil traders, refiners, governments and shipowners alike will all be keenly looking at the outcome to see exactly what impact current ...