Russia bypasses sanctions: the main oil port operates at full capacity.

Oil shippers and traders have once again resorted to bypass methods to avoid the restrictions imposed by the US and continue to export crude oil from the Russian terminal. From January 30 to February 16, none of the 16 tankers that loaded ESPO oil from the Kozmino port appeared on the US sanctions list. Half of them are transporting the local ESPO oil grade for the first Time. This indicates that the new restrictions have not halted the movement of oil vessels.

The main reason for the interest of oil traders is the potential easing of sanctions against Russia as a result of direct negotiations between the US and Russia in Saudi Arabia regarding the situation in Ukraine. According to the indicators of vessel arrivals from Iran after the resumption of sanctions threats, the sanctions are also not hindering supplies from this country.

Many of the tankers loading ESPO oil sail under 'convenient flags' of countries such as Panama, the Cook Islands, Sierra Leone, and Djibouti. Most of the vessels are headed to China, specifically to the ports of Dunin, Huizhou, and Dongjia Kou. Most of them are owned by companies from Shanghai, Hong Kong, and the Seychelles.

Freight rates on the route from Kozmino to Asia have risen sharply after the new sanctions but later decreased. The current price is around 5 million dollars for a trip to China lasting 3-5 days. Such growth from 1.5 million dollars peaked on January 10.