Russian oil mislabelled? Trick in the works to bypass EU sanctions

Some market players are said to be seeking ingenious ways to extend the lucrative trade in Russian oil just a little bit longer.

Mislabelling Russian crude as fuel oil or vacuum gasoil is one of them, a shipping source said.

That trick would allow European players to buy, carry and insure such cargoes beyond a December deadline, when European Union sanctions against Russian crude kick in.