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LSEG data shows that Russia is shipping Urals crude oil to Cuba under US sanctions.

MOSCOW, February 12 () – Russia exported Urals crude oil to Cuba onboard a ship that was under U.S. sanction in January. This rare trade reflects Moscow’s increased search for buyers who would accept delivery by using its shadow tanker fleet, LSEG showed.

On January 29, the vessel Akademik Gubkin loaded 100,000 metric tonnes of Urals at Ust-Luga, a Russian Baltic Sea port. The cargo will now cross the Atlantic to arrive at Cuba's Matanzas Terminal on February 19.

According to market data and LSEG, the vessel is managed by Rosnefteflot - the marine transport arm of Russian oil company Rosneft - which delivers Urals crude that Rosneft produces.

Rosneft has not responded to any requests for comment.

Akademik Gubkin has been added to the U.S. sanctions list for companies and individuals on January 10th 2025. The sanctions were some of the most severe yet against Russia's oil sector, and targeted vessels, dozens traders, two major oil firms and some senior Russian oil executives.

Affected were 138 vessels, mostly oil tankers that form part of the shadow Fleet, as well as tankers owned and operated by Russian fleet operators, Rosnefteflot and other fleet operators.

The shadow fleet is a term used to describe hundreds of ships that are used to transport oil in violation with international regulations.

LSEG data show that Cuba will import only 100,000 tons of crude from Russia in 2024. This is down from 200,000 tonnes in 2023 and 600.000 tons in 2022.

Since the European Union’s full embargo against Russian crude oil came into effect in December 2020, most of the Russian crude oil that is transported by sea has been redirected towards other regions.

Cuba, a socialist-run country with a shortage of fuel and cash, is also suffering from frequent power failures and gasoline shortages. Cuban officials blame the crisis largely on U.S. economic sanctions that have been in place since 1959, a charge denied by Washington. (Reporting and Editing by Elaine Hardcastle).

(source: Reuters)