Due to US sanctions, russian Urals oil sold at discount of up to USD 16 per barrel

The price of a barrel of russia's flagship Urals oil has fallen below USD 60. This has become evidence that the latest sanctions of the United States of America are effective.

Bloomberg reported this with reference to data from the price agency Argus Media.

The data indicate that sellers of Urals oil are being forced to set discounts of up to USD 16. Such a large gap has not been seen since May 2024.

At the same time, the difference between export prices at a key russian oil port and import prices at Asian destinations has increased several times.

These changes are one of the most striking signs of how U.S. sanctions are harming russia.

Bloomberg also recalled that US sanctions against more than 150 tankers from the so-called "shadow fleet" have led to buyers from India and China becoming wary of dealing with these vessels.

This has led to an increase in rates for vessels that are still willing to transport moscow oil, which actually increases the cost of delivery.

As the Ukrainian News agency earlier reported, on January 28, Reuters wrote, citing sources, that oil refining companies from India and China have practically stopped purchasing oil from russia after the latest U.S. sanctions.

Recall that the U.S. sanctions affected 143 tankers, which in 2024 provided 43% of russian oil exports by sea.

We also wrote that due to fears of secondary U.S. sanctions, China's largest port operator closed ports to tankers from russia's "shadow fleet".