What Happened to Five Oil Tankers Sanctioned for Russia Violations
Oil tankers anchored near Southwold, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Over the past month, the US has sanctioned five vessels for hauling crude above $60-a-barrel price cap set by the Group of Seven and its allies.
The price cap targets service providers like shipowners and insurers that are helping to haul Russian crude. If the country’s oil is trading above $60, which it has been for months, then they can’t offer their services.