Russia to Flood Asia With Fuels Russia’s seaborne crude exports to Europe are being compressed, with the bloc’s sanctions only about two months away. Shipments in recent weeks have been little more than half pre-invasion levels and will come under increasing pressure as the import ban nears. Customers in northern Europe in particular have slashed their imports, which are now running below 300,000 barrels a day. That’s about a quarter of the volume that was traded into the region before Moscow sent its forces to Ukraine in late February, crimping the Kremlin’s revenues. Meanwhile the diversion of crude flows from Europe to Asia appears to have stalled. Flows to the big three buyers of Russian barrels — China, India and Turkey — which initially stepped in to fill the gap after European buyers started to shun Moscow’s exports, have been in decline since mid-August. Combined flows to these three […]