At least 20 tankers carrying Russian crude were reportedly denied permission to unload at Chinese and Indian ports, leaving a growing volume of Russian oil stranded at sea amid tightening shipment restrictions.
Citing vessel-tracking data, the report noted that Russia exported an average of 3.87 million barrels of crude per day in the four weeks leading up to December 21, marking the highest daily level since May 2023, The Moscow Times reported on December 23.
Despite this surge in shipments, many cargoes faced difficulties discharging, with some vessels waiting for buyers willing to accept deeper discounts. As a result, the amount of Russian crude held on tankers at sea rose by 48% from late August, reaching 185 million barrels.
The buildup has coincided with falling export prices. The Moscow Times reported that Urals crude traded around $33-$34 per barrel, compared with Brent crude at about $61-$62, following a prolonged decline in Russian benchmark prices.
Earlier reports also indicated that Qingdao port operators would bar older or higher-risk vessels from berthing under new rules, potentially further constraining shipments of sanctioned Russian oil.
