Kazakhstan's oil exports on the Black Sea are being hit by a new Russian law banning foreign ships from entering ports without FSB approval.
Raluca Ioana Draghici
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A new regulation signed by Vladimir Putin bans foreign ships from Russia's Black Sea ports, affecting oil exports from Kazakhstan, Romania's biggest oil supplier. Kazakh company KazMunaygas, which controls the Rompetrol group, is directly involved. The ban complicates the operations of the Caspian Pipeline Consortium, which transports more than 80% of Kazakhstan's oil, and could significantly reduce global oil supplies.
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