Details on the European Union’s ban on seaborne Russian oil are hard to come by.
But regardless of the particulars, analysts believe the move will further bolster the shifts in oil trades that kicked off following Russia’s invasion of Ukraine.
“If it is almost immediate, then it will cause significant disruption to both clean and crude flows — however, we are expecting it to be phased in over the next six to eight months,” said Gibson Shipbrokers head of research Richard Matthews.
