RUSSIA BANS FOREIGN OIL TANKERS FROM LOADING AT BLACK SEA PORTS

Russia has temporarily banned foreign oil tankers from loading at its main Black Sea ports, Reuters reported, citing industry sources.

The ban on docking at Black Sea ports without FSB authorization would effectively block Kazakhstan's oil exports, largely handled by a consortium partially owned by American energy companies. The measure could limit approximately 2 percent of global oil supplies.

The decision to restrict access to foreign oil tankers came after the EU imposed new sanctions on Russia and made it more difficult for the Caspian Pipeline Consortium, whose shareholders include Chevron and ExxonMobil. The CPC transports oil through a pipeline that carries over 80% of Kazakhstan's oil exports and then through the Russian terminal at Yuzhnaya Ozereyevka.

Previously, the rules for ships docking in Russian ports were established by the Ministry of Transport, and a special procedure for the arrival of foreign vessels was applied only if the port was located near a naval base. Since July 21, these powers have been transferred to the FSB, with a procedure tightened by the President of the Republic in accordance with the Law "On Martial Law."