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Russian oil freight rates to India ease further, proposed EU curbs may reverse trend

June 16, 2025 2 min read
author Anamika Mishra, Sub Editor
Ocean freight forwarding rates for Russian crude oil shipments from Baltic ports to India have seen a noticeable dip from late May through early June, driven primarily by an oversupply of tankers in the global market. However, the downward trend in cost shipping’s may be short-lived if the European Union’s proposal to lower the Russian oil price cap is implemented. The EU, as part of its latest sanctions package against Moscow for its actions in Ukraine, has recommended reducing the Group of Seven (G7) price cap on Russian crude from $60 to $45 per barrel.

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