Tanker Operator Russian tanker group Sovcomflot expects more pressure from Western sanctions after profit slump

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Russian tanker group Sovcomflot expects more pressure from Western sanctions after profit slump

Mar 13 2025

State-controlled Sovcomflot said its net profit dropped by 55% to $424 million in 2024.

Russia's leading tanker group Sovcomflot blamed Western sanctions for a profit slump in 2024 and warned that new restrictions imposed on its fleet this year would exert increased pressure.

Russian tanker group Sovcomflot expects more pressure from Western sanctions after profit slump

>> Reuters <<

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