Washington quietly encouraged traders to restart Russian oil exports - FT

The US administration has called on the world's largest commodity traders to shed concerns over deals with price-capped Russian oil in an effort to ensure global supplies. Last year, G7 countries and the EU banned imports of seaborne Russian oil, but sales to countries that haven't joined the sanctions are still permitted at a price limit of $60 per barrel. US Treasury Department officials have held private meetings with the executives and traders of some of the largest global trading companies, urging them to resume shipping Russian oil. Trafigura, Vitol, Gunvor and other major traders stopped doing business with Russia over concerns about their reputation and the fear of losing banking support. Trifugura sold its 24.5% stake in oil-refining company Nayara, in which Rosneft owns 49.13%.