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Sherman A1

(38,958 posts)
Thu Mar 31, 2022, 02:02 PM Mar 2022

Euronav Suspends Operations with Russian Customers

Euronav has suspended operations with Russian customers, the oil tanker firm said on Thursday, adding this business accounted for less than 5% of its turnover.

The Antwerp-based group, which provides crude oil shipping and storage services, joins the growing ranks of Western companies scaling back ties with Russia following its invasion of Ukraine, which Moscow calls "a special military operation."

The company also said it could be adversely affected by trade tariffs and embargoes in light of the conflict.

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have come under growing pressure to pump more crude as Western sanctions enacted in response to the war have curtailed Russian oil exports.


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