After the embargo of the European Union (EU) on imports of raw materials from the Russian Federation came into force, Russia’s “shadow” fleet, which transports oil from this country to various parts of the world, has grown. record level – up to about 600 tankers. Iran and Venezuela, where international sanctions are also applied, cannot compete with Moscow in this indicator. informs The Bloomberg agency cites statistics from Trafigura analysts.
The embargo of European countries on the import of Russian oil transported by sea came into effect on December 5, 2022. At the same time, from February 5 this year, the “ceilings” of prices for petroleum products from the Russian Federation will begin to function. This was accepted by the G7 countries, Australia and the EU.
“The shadow fleet, which carries Russian oil to various parts of the world, has reached about 600 tankers. This is currently a record number. It is estimated to make up about 27 percent of the world’s fleet.
According to Ben Lacock, co-director of oil trade in Trafigura, Russia’s “shadow” fleet has grown to an enormous size. With the help of such tankers, Moscow will be able to bypass not only the EU embargo on raw materials, but also the impact of “ceilings” on the prices of oil products from the Russian Federation at the level of $ 100 and $ 45 per barrel. As a result, oil and food prices will rise by 40-50% due to retaliatory measures by Russia, whose authorities refuse to sell raw materials to countries that support these restrictions.
On February 4, the AFP news agency said, citing sources. reportedHe said that after the European Union (EU), G7 countries and Australia agreed on ceiling prices of $100 and $45 for oil products from Russia. The first bar will apply to products sold at an oil premium, while the second will affect products traded at a raw material discount.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.