Kazakh crude oil continues to be loaded at the Russian port of Novorossiysk after the Primorsky District Court overturned the one-month suspension order on appeal, Qazmonitor reports citing Kapital which referenced the Russian district court’s press service.
The court decision alleviates concern about a consecutive disruption to Kazakhstan's crude oil exports after a July 5 ruling ordered a 30-day suspension of activity in an environmental case relating to a 2021 oil spill.
About 80% of Kazakhstan's oil exports are transported via the Caspian Pipeline Consortium route across southern Russia to the Russian Black Sea port.
After "examining the materials and listening to the arguments of the parties, the appeal court changed the district court order and imposed a penalty on JSC "Caspian Pipeline Consortium-R" in the form of an administrative fine of 200 000 rubles," the Krasnodar courts service announced.
The Ministry of Energy of Kazakhstan explained that Kazakhstan's oil exports through the CPC-R pipeline system are proceeding as usual.
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