Finance
Kazakh Black Sea oil exports halted by new Russian regulations, sources say
Published by Global Banking and Finance Review
Posted on July 23, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on July 23, 2025
2 min readLast updated: January 22, 2026
Kazakh oil exports are halted due to new Russian regulations requiring FSB approval for foreign ships, affecting global oil supply.
MOSCOW (Reuters) -Foreign oil tankers are being temporarily barred from loading at Russia's main Black Sea ports following new regulations, two industry sources said on Wednesday, effectively blocking exports from Kazakhstan handled largely by a consortium partly owned by U.S. energy majors.
The lack of port access to foreign ships, which also affected Russian oil exports from the port of Novorossiisk, could amount to more than 2% of global oil supply, according to Reuters calculations based on loadings data from the region.
It comes days after the EU imposed fresh sanctions on Russia and complicates operations of the Caspian Pipeline Consortium, whose shareholders include Chevron and ExxonMobil.
CPC ships oil through the pipeline, which carries more than 80% of all Kazakh oil exports, and further via Russia's Yuzhnaya Ozereevka terminal.
On Monday, President Vladimir Putin signed a law under which foreign ships will require the approval of Russia's FSB security service to access the country's ports.
The decree said that permission from port authorities for foreign ships to enter would need to be agreed with the FSB, which is the main successor organisation to the Soviet-era KGB. The new measures came into force immediately after the decree was published.
CPC and Russia's ministry of transport declined to comment on the suspension.
One of the sources said he expected the situation at the ports to be resolved in a day or two.
Black Sea CPC Blend oil exports from the CPC terminal in Russia were set at 1.66 million barrels per day for August, or about 6.5 million metric tons, almost unchanged from the July export plan. Exports and oil transit via Novorossisk are seen around 2.2 million metric tons in July, according to industry sources.
Mediterranean oil markets were already jittery following a contamination scare which led to delayed loadings of Azeri BTC crude oil from the Turkish port of Ceyhan in recent days.
CPC's operations were also disrupted by a damaged pumping station in February in a suspected drone attack, and Russia's brief restrictions on capacity of the CPC's Black Sea terminal in April.
(Reporting by Reuters; Editing by Emelia Sithole-Matarise)
The Caspian Pipeline Consortium is a major oil pipeline that transports oil from Kazakhstan to the Black Sea, primarily used for exporting Kazakh oil.
Foreign oil tankers are ships registered in countries outside the nation they are operating in, often used for transporting oil across international waters.
Sanctions are penalties or restrictions imposed by countries or international organizations to influence a nation's behavior, often affecting trade and financial transactions.
Oil export refers to the selling and transportation of crude oil from one country to another, which is a significant part of global trade.
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