Sanctions Ripple Through Russian Oil Giant Sovcomflot

Sovcomflot, Russia's main tanker company, faces operational challenges due to new U.S. sanctions aimed at Russian oil and gas revenue. The company plans to mitigate these impacts while maintaining high safety and quality standards and adhering to all legal requirements.

Leading Russian tanker company Sovcomflot announced on Monday that new U.S. sanctions will pose additional operational challenges.

Sovcomflot is actively working to minimize these adverse effects while continuing to maintain high standards of safety and maritime quality, and ensuring compliance with all relevant laws and requirements.

The recent sanctions, introduced by President Joe Biden's administration on Friday, represent the broadest effort yet to target Russia's oil and gas sector.

(With inputs from agencies.)