Oil Tankers Backlog Grows at Vital Russian Port After Sanctions

A backlog of tankers is growing near Russia’s key oil port of Kozmino, the latest sign of disruption being wrought on the nation’s exports by sweeping US sanctions.

On Jan. 10, the outgoing Biden administration designated 161 oil tankers along with vital traders and vessel insurers involved in the Russian export program. Oil futures surged as the market digested the supply implications of the move