Geopolitical Pressures Hit Rosneft
High interest rates, profit taxes, and geopolitical factors caused the decline.
Igor Sechin called the situation an 'ideal storm' of negative factors.
Freight rates to India exceeded $20 per barrel by 2026, ten times 2022 levels.
Rosneft uses a 'shadow fleet' and costly insurance for Asian shipping.
Ukrainian strikes and U.S. sanctions isolated Rosneft and Lukoil.
Shipping costs offset gains from high oil prices.
1 week ago