3 Big Oil Won’t Touch Moscow’s Shadow Tankers Even After Russian Crude Is Gone

Over the weekend, we reported that oil exports of Russian ESPO-grade oil from the Pacific port of Kozmino had collapsed by more than 50% following the implementation of the western oil price cap. Today we learn that it wasn't just Kozmino's ESPO output: according to Bloomberg's Julian Lee, all of Russia’s seaborne crude shipments collapsed in the first full week of G-7 sanctions targeting Moscow’s petroleum revenues, which, while bad news for the Kremlin's income statement is an even greater source of alarm for governments around the…