The tanker “FLEX ARTEMIS” was denied entry by the Argentina-based firm, Enarsa, citing sanctions. It entered Argentinian territory on July 14th and was carrying 160,000 cbm of Liquefied Natural Gas (LNG) from a Russian supplier, loaded onto it by a Gunvor-Group Chartered vessel off the coast of France.
Argentina’s Economy Minister, Sergio Massa, stated that the vessel was turned back due to a contract violation. Additionally, an international bank involved in the transaction blocked payment to avoid any issues arising from sanctions.
However, the Gunvor Group maintains that the counterparty was fully aware of the cargo’s origins and claims that the tanker turned back because they did not receive payment. They further clarify that a self-imposed sanction has driven the European bank’s decision to withhold payment and that the transaction complies with Argentina’s legal policy towards Russian fuel.
Experts view this rejection as a clear sign of the energy market’s growing weariness with the ongoing upheavals since the Russian invasion of Ukraine. The market has become so cautious that it avoids authorized fuel of Russian origin.
As of now, the tanker has not yet signaled its next destination.
The opinions expressed herein are the author’s and not necessarily those of News2Sea.
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