FSB Lifts Black Sea Ban: Kazakhstan Oil Exports Resume

Russia's FSB security service has granted clearance for foreign tankers to access Black Sea ports, enabling the resumption of Kazakhstan's oil exports following a temporary suspension, according to industry sources.

Previously, foreign tankers were temporarily restricted from loading at Russia's key Black Sea ports due to new regulations, impacting oil exports from Kazakhstan managed by the Caspian Pipeline Consortium, which is partly owned by U.S. energy firms. Despite the restrictions, Kazakhstan's energy ministry clarified that oil loadings continued via Russian ports.

President Vladimir Putin recently signed legislation mandating FSB approval for foreign vessels entering Russian ports. The Caspian Pipeline Consortium links Kazakhstan's oil fields to export markets through Russia's Black Sea port of Yuzhnaya Ozereyevka. Upcoming Black Sea CPC Blend oil exports from Russia are anticipated to remain stable compared to previous plans.

(With inputs from agencies.)