A ruling by a Russian court that threatened to halt oil exports along Kazakhstan’s most important pipeline has been overturned, temporarily easing fears about a further disruption to global oil supplies.
A court in Russia’s southern Krasnodar region on Monday overruled the district court that last week ordered the Caspian Pipeline Consortium, which transports oil from Kazakhstan via Russia to the Black Sea, to cease operations for 30 days because of concerns about oil spills.
Last week’s suspension order came as Russia faced accusations from EU officials of intentionally cutting other exports, specifically gas, to Europe.
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