Bloomberg: Three tankers with 2M barrels of Russian oil stranded off China as US sanctions bite

Three oil tankers carrying over 2 million barrels of Russian crude are stranded off China’s eastern coast following sweeping US sanctions imposed last Friday, Bloomberg reports.

The measures, targeting Russia’s largest oil exporters, Gazprom Neft and Surgutneftegas, represent Washington’s most aggressive action against Russian energy exports since the Ukraine invasion.

The sanctions affect 183 tankers suspected of carrying Russian oil products in violation of Western restrictions and reimpose limitations on Russia’s largest shipping company Sovcomflot. Among those immediately impacted is the Huihai Pacific, which diverted from its planned destination of Dongjiakou port after loading approximately 770,000 barrels of ESPO crude at Russia’s Kozmino terminal, according to shipping intelligence firm Kpler.

Two other vessels face similar difficulties in the Yellow Sea. The Mermar, carrying 755,000 barrels of ESPO crude, and the Olia, loaded with 709,000 barrels, departed Kozmino on January 5 and 7, respectively. Both tankers, originally bound for Yantai port, are now waiting offshore.

The situation has grown more complex as Shandong Port Group Co., which manages multiple ports in the province, has directed its terminals to block sanctioned oil tankers from docking or offloading cargo. The move particularly affects deliveries of ESPO grade crude, a preferred option among China’s independent refiners.

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