Report: Russia acquired 100 tankers to circumvent sanctions

Friday, 02. December 2022 23:50

Russia acquired more than 100 older oil tankers to help it circumvent oil-related sanctions western alliances imposed against Moscow, the Financial Times reported on Frida, citing "shipping brokers and analysts."

According to the newspaper's sources, the new fleet will help Russia ease the negative consequences of the sanctions, but it won't save it from the full impact of the measures. The expanded fleet will aim to transport oil to buyers that will not comply with the western-imposed price cap, which is set to go into effect next week.

Regardless of the massive tanker acquisition, Moscow is expected to face issues in the first few months of 2023 to keep up with previous export levels, which will likely result in a deficit in the global market and make prices higher, according to the insiders.

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Author:
Baha Breaking News (BBN) / MS