Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries.

The sanctions, which targeted Gazprom Neft, Surgutneftegaz, and 180 shadow fleet tankers, have created a surplus of oil in Russia that cannot be exported abroad. The ports of Ust-Luga, Primorsk on the Baltic and Novorossiysk on the Black Sea have seen a 17% drop in January export deliveries,

Russia is facing the threat of a reduction in oil production due to US sanctions and Ukrainian drone attacks. Source: Reuters Details: Reuters noted that the US sanctions have complicated access to tankers supplying oil to Asia,

Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices.