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Russia finds way to transport oil around EU sanctions via port in Egypt – Bloomberg

the Russian Federation has found a new way to ship its own oil, which will allow it to bypass Western sanctions.

This is reported Bloombergreports Ukrinform.

It is reported that a cargo of about 700,000 barrels of Russian oil was delivered to the Egyptian Al Hamra oil terminal on the Mediterranean coast on the morning of July 24. A few hours later, another ship took a consignment of oil from the port, which could include part or all of the cargo delivered by the Russians.

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The unusual move makes it harder to trace the cargo’s final destination, reinforcing a trend of Russian oil supplies becoming increasingly clandestine as European buyers shunned them after Russia’s invasion of Ukraine.

The Al Hamra Terminal, built to process crude oil produced in Egypt’s western desert, has six storage tanks capable of holding 1.5 million barrels of crude oil and creates the capacity to mix Russian barrels with local volumes.

A few hours after the first tanker, Crested, left El Hamra, another one, Chris, arrived. Tracking data shows that he had already been in the terminal for several days, but moved away from the pier so that Crested could dock.

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When Chris left El Hamra on July 28, his cargo tanks were nearly full, tracking data showed. The tanker is now moored at the Ras Shuheir oil terminal on the Red Sea coast in Egypt. This terminal also allows the mixing of Russian crude oil with Egyptian barrels.

The European Union ban on oil supplies from Russia, as well as on the provision of insurance and other transport services, which should come into force no later than this year, prompts Russia to look for alternative ways to deliver its goods to buyers, bypassing Western sanctions. Because of this, operations to move Russian oil from ship to ship, making it difficult to track the cargo, have already been recorded near the Spanish exclave of Ceuta on the North African coast, as well as near the Azores and Singapore.

As Ukrinform reported earlier, the Finnish company Tampereen sähkölaitos stopped buying Russian oil after publicity in the media.

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