A worker checks the horizontal flare system by a gas well at the Gazprom PJSC Chayandinskoye oil, gas and condensate field, a resource base for the Power of Siberia gas pipeline, in the Lensk district of the Sakha Republic, Russia, on Tuesday, Oct. 12, 2021. European natural gas futures declined after Russia signaled that it may offer additional volumes soon.
A worker checks the horizontal flare system by a gas well at the Gazprom PJSC Chayandinskoye oil, gas and condensate field, a resource base for the Power of Siberia gas pipeline, in the Lensk district of the Sakha Republic, Russia, on Tuesday, Oct. 12, 2021. European natural gas futures declined after Russia signaled that it may offer additional volumes soon.

Russian oil logistics in chaos ahead of looming sanctions

Intense US-led diplomatic wrangling to soften aggressive European Union sanctions has been going on for months but time is ticking. 
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By Serene Cheong

(Bloomberg) — Traders, tanker companies and the world's most powerful governments are becoming increasingly fixated upon one question in the oil market: can the petroleum industry's supply chain handle the harshest sanctions on Russian exports in history?

A vast shadow fleet of tankers with unknown owners is being amassed to service Moscow's interests. Intense US-led diplomatic wrangling to soften aggressive European Union sanctions has been going on for months but time is ticking. 

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