Russian Coal, Crude, LNG Exports Slipping as Self-sanctioning Starts
The voluntary shunning of Russian commodities by Western buyers, or self-sanctioning, was expected to start hitting exports of crude oil, liquefied natural gas (LNG) and coal from April, but there are already signs that flows are weakening.
Russia's invasion of neighbouring Ukraine has prompted numerous Western companies to withdraw from their investments in Russia and scale back or halt their purchases of energy commodities, the mainstay of Russia's economy.
While Western governments haven't directly sanctioned energy commodities, many companies are pulling back from buying from Russia due to a combination of fear of public opposition and difficulties in securing financing, insurance and a reluctance of ship owners to load from Russian ports.
This self-sanctioning was expected to largely hit Russia's exports from April, as most March cargoes would have been arranged prior to Moscow's first attack on Ukraine on Feb. 24.
https://www.marinelink.com/news/russian-coal-crude-lng-exports-slipping-495031