Russian Oil Shipments On The Black Sea Stopped

A reason has been given.

Oil shipments at Russia's largest Black Sea terminals in Novorossiysk and Yuzhnaya Ozereyevka have been suspended due to a new administrative procedure for approving ship calls, Reuters reported, citing three industry sources.

One of them expects the situation to normalize within a few days.

The Black Sea port of Novorossiysk is used to export and transit Urals, KEBCO and Siberian Light crude. The neighboring terminal in Yuzhnaya Ozereyevka, owned by the Caspian Pipeline Consortium (CPC), handles CPC Blend.

CPC and the Russian Transport Ministry declined to comment.

July 21, President Vladimir Putin's decree came into force, establishing new rules for foreign ships entering Russian seaports.

"Establish that the entry into Russian Federation seaports of ships coming from foreign ports is carried out with the permission of the seaport captain, agreed with an official of the Federal Security Service body," the document says.

CPC Blend oil shipments via the CPC are scheduled to reach 6.5 million tons in August, almost in line with the July schedule.

Oil exports and transit from Novorossiysk in July should total about 2.2 million tons, sources said.

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