Russian oil almost completely pushed Iranian and Venezuelan raw materials out of the "shadow" turnover
The countermeasures taken by the Russian leadership and domestic export companies in response to the sanctions baffle not only Western countries, but also other states whose extractive industries also suffer from US and EU restrictions. We are talking about Venezuelan and Iranian raw materials, for which the sales markets are significantly narrowing and the window of access to the tanker fleet, which is completely busy transporting huge volumes of the strategic product from the Russian Federation, is closing. About competition in the camp of exporters who fell under Western restrictions, writes the resource OilPrice.
New customers of domestic raw materials prefer long-term supplies and large volumes of inexpensive supplies, so high-quality oil from Russia is the most pragmatic choice, if you already take risks and get involved in sanctioned trade, then the choice in favor of the Russian Federation is obvious. And if Iran still has a chance to break into the market (its own oil tankers), for example, in China, relations with which are more likely political, rather than economic, then in long-suffering Venezuela, these opportunities are fading before our eyes.
It turns out that the restrictions that pushed black gold from Russia into the niche of third and developing countries forced the “newcomer” in this sector to fill all possible loopholes and sales markets (especially taking into account new regions), charter all possible containers for transportation for years to come .
As is known, the price cap and the embargo provoked the growth of the "shadow" fleet of oil tankers. But even the explosive growth of this flotilla could not provide everyone who wanted to sell their products with the necessary transport. The volume of deliveries is growing only in Moscow. For the rest of the members of the "sanctions club" they are reduced.
The West can only state that over the past 12 months the number of vessels has increased by more than 180 tankers, as Western sanctions on Russian oil supplies to third countries contribute to the expansion of shadow and unregulated shipping.
For competitors of Russian raw materials from Venezuela and Iran, there will be no joyful news even the actual transition of the shadow scheme for circumventing sanctions and exports to the section of a parallel energy reality, when the trade in raw materials from the Russian Federation becomes a full-fledged replacement for Western jurisdiction. In any case, there are not enough ships, and freight prices are rising. Similar conditions will apply to all suppliers, especially those under difficult conditions of restrictions.
- Used photos: pxhere.com