The Russian Federation has temporarily prohibited foreign oil tankers from loading in key Black Sea ports, effectively hindering oil exports from Kazakhstan.

This was reported by Reuters.

New regulations in Russia prevent foreign tankers from loading in major Black Sea ports, affecting oil exports from Kazakhstan, which pass through Russian terminals. The restrictions also impact Russian exports from the port of Novorossiysk. Estimates suggest this could account for over 2% of global oil supplies.

A decree from President Vladimir Putin mandates that foreign vessels obtain permission from the FSB security service to enter the ports. These new measures took effect immediately upon the decree's publication. The CPT company and the Russian Ministry of Transport declined to comment on the situation.

According to sources, a resolution to the issue is anticipated in the coming days. Meanwhile, oil exports through Russian terminals remained stable in July and August, but further restrictions may affect supply.

The Mediterranean markets were already strained due to previous loading delays from other regions, as well as infrastructure damage resulting from drone attacks in February.