Russia’s Sovcomflot lost $393M in Q1 due to Western sanctions targeting its tanker fleet. Revenue fell 49%, operations stalled, and ships were idled. U.S. revoked licenses in January. Ukraine also exposed 31 vessels and 11 captains skirting oil trade bans.

Russia’s Sovcomflot lost $393M in Q1 due to Western sanctions targeting its tanker fleet. Revenue fell 49%, operations stalled, and ships were idled. U.S. revoked licenses in January. Ukraine also exposed 31 vessels and 11 captains skirting oil trade bans.

https://i.redd.it/0gqvlyqh643f1.png

by Confident_Weight_475