10
Mar

Russian tanker group Sovcomflot expects more pressure from Western sanctions after profit slump

Russia’s leading tanker group Sovcomflot blamed Western sanctions for a profit slump in 2024 and warned that new restrictions imposed on its fleet this year would exert increased pressure. The United States and the European Union imposed sanctions on Sovcomflot and its fleet in 2024 to try and reduce Russia’s revenue from oil sales that …