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Energy Library

Theme(s): Energy Outlook

Tag(s): UAE , Russian , Oil , Energy

Source: Reuters

The United Arab Emirates has been taking more cargoes of Russian crude oil, according to ship tracking data and trading sources, in another example of how Western sanctions on Russia have adjusted traditional energy trade flows.

Russia has been selling both crude and refined products at discounted prices after international sanctions over its invasion of Ukraine, which Moscow calls a "special military operation", left it with fewer buyers.

The development also highlights growing cooperation between Russia and top Gulf oil producers, such as Saudi Arabia and the UAE. Gulf Arab states have resisted U.S. pressure to help isolate Russia and to pump more oil to help replace Russian supply after it came under Western sanctions.