Alexey Gromov gave a commentary to the radio station "Business FM" about the refusal of the Vitol Group oil trader to trade in oil and oil products from Russia.
Vitol joined traders Glencore and Trafigura in making announcements earlier this week that they would limit trades with Russia. ExxonMobil, Shell and BP announced their refusal to buy Russian oil even earlier. The volume of oil supplies could have fallen by about a quarter over the past month, but these are rough estimates, Alexei Gromov, director for the energy direction of the Institute of Energy and Finance, explains:
— Vitol Group is one of the largest oil traders along with Trafigura and accounts for a significant portion of Russian oil spot exports.
- Total volumes today are estimated in the range from 1.5 million to 2 million barrels of oil and oil products. Taking into account the total volume of Russian exports of oil and oil products at the level of 7.5 million barrels at the end of last year. In the future, these figures can be adjusted both up and down, because when some companies announce their refusal to trade Russian oil, this often does not always mean a complete and final ban on operations with Russian oil. For example, Russian oil products are mixed with foreign oil products, and then the diesel fuel or distillates that enter the European market cannot be formally called Russian. In this situation, I do not exclude the possibility that such "gray" schemes to continue selling Russian oil to foreign customers, by the same Vitol Group, can be saved.
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