The latest surge of dark fleet ships began after Russia invaded Ukraine and the West tried to limit Moscow’s oil revenue with sanctions.
The ships most likely sell their Russian oil to China above a price limit set by the sanctions.
“The price cap is achieving its dual goals: restricting Russia’s oil revenues while keeping Russian oil flowing, and markets stable and well-supplied,” a U.S. Treasury spokesperson told The Times.
The spoofing tankers using American insurance show that the practice is not limited to Russian oil alone.
The company, Gatik Ship Management, owns a fleet of 50 newly acquired tankers dedicated to the Russian oil trade, the report said.
Persons:
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Organizations:
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Locations:
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