Live Updates > Live Update Details
2025-10-30 00:34:10
[FGE: Sanctions Won't Deprive Russian Oil of Major Buyers, But Trade Friction Expected in the Next 6-8 Weeks] Consulting firm FGE NexantECA stated in a report on Monday that major countries currently importing Russian crude oil and refined products are likely to continue purchasing, provided they can obtain documentation proving that the purchased crude oil does not originate from Lukoil or Rosneft. FGE predicts "serious trade friction" in the next 6-8 weeks, as current buyers of crude oil and refined products from Rosneft and Lukoil will have to find alternative sources. Up to 1 million barrels per day of crude oil may be stranded in November and December, struggling to find buyers. While sanctions against Rosneft and Lukoil "significantly increase uncertainty" in the short term, FGE stated that once these restricted oil products find alternative shipping routes and new markets, the support for oil prices is expected to weaken in 6-8 weeks.
