Russian Arctic Oil Reaches Syrian Shores Amid U.S. Sanctions

Two U.S. sanctioned tankers are delivering Russian Arctic oil to Syria, marking a significant move as Moscow sends its first diesel shipment there in over a decade. The vessels, facing sanctions from January, are unloading at Syria’s Baniyas port amidst a backdrop of regional oil supply challenges.

In a notable development, two tankers brimming with Russian Arctic oil are navigating their way through U.S. sanctions to offload in Syria for the first time. This comes on the heels of Russia's initial diesel shipment to Syria in over ten years, according to data from LSEG and sources close to the government.

The first tanker, Aquatica, arrived at the Baniyas port carrying 100,000 tons of oil, although unloading operations have yet to commence. A second vessel, the Sakina, is en route with another 100,000 tons, anticipated to reach the Syrian port by March 25, as per shipping data.

Both vessels, along with the Umba storage tanker used for loading in February, are under U.S. sanctions imposed in January. Russia is actively seeking new markets for its Arctic oil following these restrictions, particularly as Syria endeavors to replace dwindling Iranian supplies impacting its largest refinery operations.

(With inputs from agencies.)