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Dubai-based Coral Energy turns focus to Asia, halts trade in Russian crude

he trading house emerged as one of the key suppliers of Russian crudes to Asia after some western entities shunned purchase of Russian oil

Photo: Bloomberg
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Photo: Bloomberg

Reuters New Delhi
Dubai-based trader Coral Energy said it is looking at expanding its business in Asia where energy demand is set to rise, and has stopped dealing in Russian crude oil since western sanctions were imposed on some Moscow entities in July.
 
The trading house emerged as one of the key suppliers of Russian crudes to Asia after some western entities shunned purchase of Russian oil following its invasion of Ukraine in late February.
 
"We supplied Russian crude oil cargoes until it was legitimate to do so but once sanctions were imposed on Russian entities, we stopped dealing in Russian oil," the

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First Published: Nov 24 2022 | 1:34 PM IST

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