The Biden administration is planning restrictions against tankers carrying Russian oil sold at a price above the established limit.
The United States plans to impose additional sanctions against Russia’s “shadow” fleet of oil tankers and reduce its revenue for the war in Ukraine. Reuters reported this on Monday, January 6, citing its sources.
President Joe Biden’s administration is seeking to bolster support for Ukraine before President-elect Donald Trump takes office on Jan. 20. It’s unclear what Trump’s approach to sanctions against Russia will be.
The Biden administration is planning sanctions against tankers carrying Russian oil sold at prices above the Western limit of $60 a barrel, the sources said. Russia uses a so-called shadow fleet of aging ships to get around the limit. Many ships are less safe and prone to oil spills, shipping experts say.
Following Russia’s invasion of Ukraine in February 2022, the United States imposed sanctions on dozens of such vessels in a fleet estimated to number in the hundreds to reduce its ability to finance the invasion.
Because of the restrictions, Russia has shifted its oil sales to China and India, which are willing to buy Russian crude oil, which is usually sold at a discount to the general market, even if it is sold at a price above the cap.
Sanctions are likely to include action against people involved in several networks that trade oil above the price limit.
Earlier, the OP said that the restrictions imposed by the West on the price of oil from Russia, including the “price ceiling,” no longer work. Now even late decisions will be useful, which will have an effect on reducing the Kremlin’s income from oil sales.
Sibiga called for sanctions against Russia to be made more effective
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.