Russia has introduced new restrictions on foreign tankers at major Black Sea ports, effectively blocking oil exports from Kazakhstan. The measure affects the operations of the Caspian Pipeline Consortium (CPC), whose shareholders include US companies Chevron and ExxonMobil.
The new regulations require foreign ships to obtain permission from Russia's Federal Security Service (FSB) to access the ports. The blockade affects more than 2% of global oil supply, according to Reuters calculations based on cargo data in the region.
The SPC pipeline transports more than 80% of Kazakhstan's oil exports through the Russian terminal Yuzhnaya Ozereika. ΠThe planned output of the SRC Blend for August is 1.66 million barrels per day, or about 6.5 million tons.
For the European Union, the consequences are significant. Kazakhstan is among the third largest oil suppliers to the EC, with a share of 12.7% in the first quarter of 2025, up from 10.9% a year earlier. This puts it just a little behind Romania in terms of volume. The first place is the United States.
For Romania, the situation is especially critical. Kazakh oil is the main source for the Romanian refinery ""Petromidia" - the largest in the country, controlled by the national company of Kazakhstan through Rompetrol. Deliveries are made exclusively by sea from the port of Khovrosysk.
According to the analytical publication GIS Reports in Kazakhstan, this scenario was not unexpected, and therefore the country is gradually reorganizing exports through Azerbaijan. How quickly, however, rhythmic deliveries to Europe could be organized via a new route is another question.
Industry sources expect the situation in the ports to be resolved within 1-2 days. In addition, the new restrictions demonstrate the continued vulnerability of European energy chains to Russian influence, even with alternative sources of supply.