Russia’s Bigger Shadow Fleet Helps Beat Oil Sanctions, KSE Says
- 74 new vessels carried Russian crude in first half: report
- KSE Institute says that has helped cap Russian oil discounts
Photographer: Glyn Kirk/AFP/Getty Images
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Russia’s efforts to bolster its so-called shadow fleet of oil tankers in the first half of this year helped to offset the impact of Western sanctions, according to the KSE Institute.
Some 74 new vessels started carrying Russian crude in the period, having not done so last year, the institute said in a report. That’s more than the 49 tankers that have been sanctioned. The additional ships help to explain why discounts for Russian oil haven’t been widening, it said.