The total value of trapped oil may reach $3.5 billion.
Sanctions imposed by the United States on January 10 against the Russian oil industry led to the shutdown of about one-tenth of the so-called “shadow fleet” used to transport oil. It was reported by Reuters.
The total value of the seized oil could reach $3.5 billion.
The new restrictions could seriously disrupt Russian oil supplies, the International Energy Agency (IEA) said in a monthly report published on Wednesday.
As of Monday, after the US Treasury announced sanctions, at least 65 tankers carrying Russian oil were stranded at sea, according to agency estimates based on ship movements.
Five tankers with a cargo of about 4 million barrels stopped in China’s Shandong province, home to many independent refineries, which actively buy ESPO and Sokol crude. Seven more tankers dropped anchor in Singapore, and dozens off the Russian coast in the Baltic Sea and the Far East.
In total, there is as much oil stuck in the sea as Russia exports in two and a half weeks. Although the United States has given two months to complete the deliveries that have already begun, not all buyers are ready to accept the shipped oil, fearing the consequences of sanctions.
Let’s remember that the day before the United States initiated large-scale sanctions against Russian oil and Russia’s “shadow fleet”.
China has banned “shadow” tankers from entering ports
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp
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.