“The US plans to strengthen sanctions against tankers transporting Russian oil – Reuters The Biden administration plans to introduce sanctions against tankers transporting Russian oil that is more expensive than $60 per barrel. The measures will also affect persons involved in trading oil above the established price ceiling.”, — write on: unn.ua
Details
The Biden administration, as noted, seeks to strengthen support for Ukraine before the inauguration of US President-elect Donald Trump on January 20, “given the Republican leader’s frequent complaints about the cost of US support to Ukraine.”
It is unclear what Trump’s approach to sanctions against Russia will be.
Sources said that “the Biden administration plans to impose sanctions on tankers carrying Russian oil sold above the Western price ceiling of $60 per barrel.” Russia used this so-called “shadow fleet” of aging vessels to avoid the limit. Many ships are less safe and prone to oil spills, shipping experts say.
After the Russian invasion of Ukraine in February 2022, the United States imposed sanctions on dozens of such vessels from a fleet estimated to number in the hundreds, in order to reduce Russia’s ability to finance the invasion.
The restriction is said to have forced Russia to redirect its oil sales to China and India, which have been willing to buy Russian crude, which is usually sold at a discount to the general market, even if sold at a price above the ceiling.
“It will be a big package,” one of the sources said. Another source said the sanctions are also likely to include measures against people involved in some networks that trade oil at prices higher than the ceiling.
U.S. Treasury Secretary Janet Yellen told Reuters last month that the U.S. was considering additional sanctions on tankers and not ruling out sanctions on Chinese banks as it seeks to cut Russia’s oil revenues and access to foreign supplies to fuel its war in Ukraine.
Addition
The G7, the EU and Australia imposed a $60 price ceiling on Russian oil at the end of 2022, barring the use of Western maritime services such as transport, insurance and financing to supply oil at or above the ceiling.
Russia is one of the three largest oil-producing countries in the world.