Russia Faces an Impending Oil Tanker Crisis as Sanctions Pile Up: Oil Strategy
- Now-sanctioned tankers carried 57% of Russia’s oil in 2024
- Previous US measures proved highly disruptive for Russia
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Russia appears to be on the cusp of a debilitating oil-freight transportation problem because of US sanctions, writes Bloomberg oil strategist Julian Lee.
On Jan. 10, the US Treasury sanctioned 161 oil tankers for their role in moving Russian oil. It was part of a raft of measures against Moscow imposed by the outgoing Biden administration that President Donald Trump has yet to dial down. Indeed, there appears to be a chance he’ll go even harder prior to any Ukraine peace talks.