Russia’s Sovcomflot blames earnings drop on Western sanctions By Reuters
(Reuters) – Russia’s leading tanker group Sovcomflot said on Friday that Western sanctions on Russian oil tankers were limiting its financial performance, as it reported falling revenues and core earnings. The United States imposed sanctions on Sovcomflot in February, part of Washington’s efforts to reduce Russia’s revenues from oil sales that it can use to finance its war in Ukraine. Sovcomflot reported a 22.2% year-on-year drop in nine-month revenue to
