Report: Russia’s seaborne oil exports fall by 22% in December

MOSCOW, Dec 29 (PRIME) -- Russia’s oil export by sea contracted by 22% in December as compared with the average monthly figures for January–November, the Wall Street Journal reported on Thursday quoting data of research agency Kpler.

The data shows Russia exported only 2.5 million barrels of oil per day by sea in December, the newswire reported.

The Western sanctions on Russian oil came into force on December 5. The E.U. prohibited imports of seaborne oil from Russia, while the Group of Seven leading industrial nations, Australia, and the E.U. imposed a U.S. $60 price cap on Russian oil transported by sea.

President Vladimir Putin responded by signing a decree that prohibits supplies of oil and oil products to foreign entities of the contracts with them directly or indirectly provide for the price cap.

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