Submission Statement: “A new wave of sanctions on individual vessels is making it harder for Moscow’s shadow oil fleet to operate, slowing the flow of petrodollars to the Kremlin’s war machine.” Mila Tanghe and Thomas Penny explain that over 35% of Russia’s tanker fleet is now sanctioned, restricting oil exports and making it harder to break the $60 price cap set by the G7. The sanctions have increased shipping costs, with freight and insurance premiums surging, and have already slowed Russian oil trade with China and India.
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Submission Statement: “A new wave of sanctions on individual vessels is making it harder for Moscow’s shadow oil fleet to operate, slowing the flow of petrodollars to the Kremlin’s war machine.” Mila Tanghe and Thomas Penny explain that over 35% of Russia’s tanker fleet is now sanctioned, restricting oil exports and making it harder to break the $60 price cap set by the G7. The sanctions have increased shipping costs, with freight and insurance premiums surging, and have already slowed Russian oil trade with China and India.
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