US privately urged traders to resume shipments of Russian oil: Report – IOTW Report

US privately urged traders to resume shipments of Russian oil: Report

Trading companies say Washington “actively encouraged” them to re-engage in shipping crude, the outlet reported.

The Intel Drop:
The US government has quietly told the world’s largest commodity traders to shed concerns over deals with price-capped Russian oil in an effort to ensure global supplies, the Financial Times has reported citing sources familiar with the matter.

Last year, G7 countries and the EU banned imports of seaborne Russian oil, but sales to countries that haven’t joined the sanctions are still permitted at a price limit of $60 per barrel.

While the White House hasn’t opposed trading Russian crude in compliance with the price cap, major trading houses have shunned oil deals from the sanctions-hit country, the outlet said.

But as concerns over curbs in Russian oil supplies are mounting, Washington – which had been pushing for restrictions – is now seeking to secure the flows. According to the FT, US Treasury Department officials have held private meetings with the executives and traders of some of the largest global trading companies – including Trafigura and Gunvor – urging them to resume shipping Russian oil. MORE

The article from Financial Times the report referenced.

9 Comments on US privately urged traders to resume shipments of Russian oil: Report

  1. Biden’s now OK with Russia making $Billions to fund the War against Ukraine at the same time sending $billions of dollars and $Billions of dollars of military tanks and equipment to Ukraine.

    Biden is an incompetent fool. And he’s making every Tax Payer part of his idiotic scheme.

    3

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