Russian oil can get to US through Bahamian loophole

An American refinery imported 10,000 barrels of Russian oil through a storage terminal in the Bahamas.

Source: Bloomberg

Details: Morgan Butterfield, US Energy Information Administration spokesman, said the oil delivered to Wilmington, Delaware, in November did not violate US sanctions, as it was exported from Russia to the Bahamas until 8 March 2022, when sanctions came into effect. He added that it was blended with other oil before being imported into the US.

According to the EIA and Customs, the shipment arrived at PBF Energy Inc.'s refinery in Delaware. Butterfield said that the importer clarified that the mixed barrels were partly of Russian origin.

PBF's shipment is in compliance with US sanctions against Russia, said Michael Karlovich, a spokesman for the refinery, without providing further details.

Read also: Sanctions targeting Russian oil are falling apart. What will the West do?

Reminder: Marine shipments of crude oil from Russia fell to their lowest level in almost two months due to unfavourable weather and a Ukrainian drone strike that briefly halted the flow from a key export terminal in the Baltic.

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