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Russia oil sanctions create different winners at different times

The article from Reuters discusses the impact of Western sanctions on Russian oil exports, highlighting how these sanctions have led to a complex shift in global oil trade dynamics. Initially, countries like India and China benefited from discounted Russian oil, but as the sanctions evolved, particularly with the G7 price cap and restrictions on shipping and insurance, the advantages have shifted. Russia has had to adapt by using a "shadow fleet" of tankers and alternative insurance, which has increased costs and reduced the discounts on its oil. This has led to a situation where different countries and companies benefit at different times, depending on their ability to navigate the new trade routes and sanctions. The article notes that while Russia's oil revenues have been hit, the global oil market has seen a rerouting of trade flows, with some regions like the Middle East and the U.S. gaining market share in Europe, previously dominated by Russian oil.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/russia-oil-sanctions-create-different-winners-different-times-russell-2025-01-29/ ]