Russian tanker approaches US with Mexican oil

An Aframax operated by Russian state-owned company Sovcomflot is expected to discharge a Mexican crude cargo in the US Gulf coast on 4 March as the US contemplates further sanctions against Russia for its invasion of Ukraine.

The NS Concord is in the fleet of Sovcomflot, whose access to US debt and equity financing was cut off by the US via sanctions on 24 February.

While US sanctions appear to continue to allow oil transport by Russian entities, international political pressure to further punish Russian shipping interests is rising. The UK is developing sanctions targeting Russian shipping, according to transport minister Grant Shapps. He said he wrote to all UK ports asking them to not provide access to any vessels owned, controlled, chartered or operated by any person connected with Russia.

The NS Concord departed the Mexican port of Coatzacoalcos with 487,000 bl of crude on 25 February and today was within 100 miles of Freeport, Texas, according to Vortexa data.

Vessel tracking shows other Sovcomflot-owned tankers have recently called at US ports. The SCF Yenisei handymax is in Richmond, California, and the SCF Irtysh medium range tanker is in New York having just discharged a 350,000 bl naphtha cargo from Ust-Luga, Russia.

Sovcomflot operates 108 oil tankers and 14 gas carriers.

By Nicholas Watt