Russia appears to have found a port that will allow it to deliver crude oil without Western sanctions. Bloomberg reports that it is a small Egyptian El-Hamra oil terminal.
According to Bloomberg, On the morning of July 24, about 700,000 cargoes were delivered to the terminal. Russian oil barrels. Within hours, another vessel, the Chris, had picked up some or all of the vessel from the harbor.
The El-Hamra terminal has six tanks that can hold 1.5 million barrels of crude oil. This allows mixing of Russian and Egyptian raw materials.
When the Chris ship left El-Hamra terminal on July 28, its tanks were almost full. It is now docked at the Ras-Shokir oil terminal on the Egyptian Red Sea coast, where Russian and Egyptian oil can also be mixed.
In June The Council of the European Union approved another set of economic sanctions against Russia, which prohibit the purchase, import and transport of Russian oil and certain petroleum products into the EU.. The crude oil embargo is about raw material imported by sea.
. “Hardcore internet junkie. Award-winning bacon ninja. Social media trailblazer. Subtly charming pop culture advocate. Falls down a lot.”