Indonesia's Karimun Terminal Becomes Key Russian Oil Hub

RUSIA - SINGAPORE. Indonesia's Karimun terminal has ramped up imports of Russian oil products to become a key transshipment hub where traders store cargoes whose countries of origin are rebranded before re-export, according to eight industry sources and ship-tracking data.

Russian oil exports have shifted to Asia from Europe in the aftermath of Moscow's 2022 invasion of Ukraine as Western sanctions aimed at limiting Moscow's oil revenue make direct imports from Russia difficult for many buyers.

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