Russia has enacted new regulations prohibiting foreign oil tankers from loading at key Black Sea ports, effectively hindering oil exports from Kazakhstan.

According to a report by Reuters.

The regulations prevent foreign tankers from conducting loading operations at the main Black Sea ports, which directly affects the export of oil from Kazakhstan that transits through Russian terminals. This ban also impacts Russian exports from the port of Novorossiysk, which could account for over 2% of global oil supplies.

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

Sources indicate that a resolution to the issue is expected in the coming days. Meanwhile, oil exports via Russian terminals remained stable in July and August, but further restrictions could affect supply chains.

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