Russia cashes in as European oil refiners pay for US sanctions

European refiners are paying the price for US oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with increasingly expensive Russian oil, trading sources said and data showed.

View of a mural close to the headquarters of the state-owned oil and natural gas company Petroleos de Venezuela (Pdvsa), in Caracas, Venezuela, 30 January 2019. [Miguel Gutierrez/EPA/EFE]

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Euractiv.com with Reuters 12-04-2019 08:56 4 min. read Content type:

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Updated: 29-09-2024

Russia cashes in as European oil refiners pay for US sanctions

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