The other tier comprises mainstream vessels that use Western services for legal oil shipments, including from Russia under the terms of the price cap.
In the short term, available ghost vessels could be in particular demand, making chartering them more expensive.
Even so, some analysts say removing the price cap could be the way to really punish Russia.
But he said that was very unlikely because the price cap at least allows Russian oil to flow, thereby moderating international prices.
"The Biden administration is already reeling from higher oil prices compounded by the unrest in Gaza, potentially spreading to a wider Middle Eastern conflict.
Persons:
Alexandre Meneghini, Ioannis Papadimitriou, Mike Salthouse, FGE, Vortexa’s Papadimitriou, Richard Bronze, Adi Imsirovic, Biden, Natalie Grover, Robert Harvey, Julia Payne, Andrea Shalal, Barbara Lewis
Organizations:
REUTERS, Reuters, Maersk, EU, White House, United Arab, Shell, BP, Exxon Mobil, Exxon, U.S, . Treasury, Treasury, Novy Port, Surrey Clean Energy, Thomson
Locations:
Liberia, Russia, Matanzas, Matanzas , Cuba, Ukraine, United States, Euronav, Turkey, United Arab Emirates, U.S, India, Novy, Gaza, London, Brussels, Washington