European oil traders weigh Russia return in market reshaped by war

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When European oil traders need to re -enter Russian markets with Moscow, they will want to maintain growing control of its oil export.

Most Russian oils stopped trading after Ukraine’s invasion of Europe after a strong product house in Europe, including Vitle, Traffigura and gunpowns, forced to rely on new mediators to remove Moscow Asia, Africa and Middle East crude and petroleum.

Torbjorn Turkvist, chief executive and founder of the Geneva-based songwr, says Russian oil producers will probably allow European traders to return, but Western sanctions will want to maintain that network.

“They clearly have their own way and use their own controlled system to bring oil to the market,” says Turkvist the FT Product Global Summit Laoson in Switzerland. “My suspicions they would not go back to what they did and not all transportation and all marketing will leave the traders.”

Before the war, oil producers like Rosnoft sold oil to European traders based on a free-on-board, meaning that traders would host shipping from Russian port to foreign customers, making profit on the way.

In the future, Rosneft and other Russian producers may try to sell more oils on distributor basis using the trading network they created directly to send directly to customers and keep a larger part of the profit.

Prior to the war, Ganwor’s prophecy, one of the largest shipping companies in Russian oil, raised the possibility of a new fight for Moscow markets in Europe’s trading giants and groups, mainly in Dubai and Hong Kong, which has served the country since the full-scale attack in 2022.

After the Russian invasion of the United States and Europe’s most wide sanctions in history, most Western companies seemed to have written the Moscow market for years.

However, with US President Donald Trump’s Russian President Vladimir Putin, the simultaneous controversial pursuit has once raised the unstoppable potential that restrictions on the peace agreement can be relaxed.

CEO of Vitle, Trafigura and Gunvor said they would probably return to Russian crude trading if the ban was withdrawn,

However, it was warned that it could be some time away.

“Mostly [in Vitol] Europe -based and European sanctions begin to think, okay, how can it be broken? “Vitle’s chief executive Russell Hardy said at the FT Summit.

“In reality, we think it’s going to be one or two years and so there is no concern about preparing or preparing for it within the organization, but I can clearly be wrong and it can be a bit faster than expected.”

He also added that some US officials and energy officials were present in favor of simplifying the sanctions, but the situation in Europe was more “complicated”, “The number of European countries involved in different views” was given.

In the end, some parts of Europe may decide to restart Russian imports, others may decide not to choose, he said. “This is probably going to be a very fragile solution, and our activities clearly depend on the law, rules and rules at that time.”

Richard Holtum, the new CEO of Trafigura, said that Giving Washington’s “noise”, America would first choose Russia to simplify its sanctions.

However, due to a large number of European citizens working in Trafigura, both the UK and the EU sanctions need to be withdrawn before the company’s position. “You need to see all the restrictions back before you have something that can be considered,” she said.