The U.S. Treasury has announced a new series of sanctions targeting the Russian oil sector, with major implications for significant entities including Gazprom.
The sanctions specifically impact 183 tankers engaged in the transportation of Russian oil, prominently featuring vessels linked to a so-called ‘shadow fleet.’ This fleet is purportedly composed of aging and unsafe tankers used clandestinely to transport oil and goods, aiming to evade Western sanctions imposed on Moscow.
In addition to these vessels, the sanctions extend to a considerable number of oil traders and service providers within the oil field sector, along with various officials connected to the Russian energy industry. Notably, two marine insurance companies from Russia have also been included in the sanctions list.
A U.S. official indicated that the financial impact of these sanctions on Russia could amount to billions of dollars each month. The measures are designed to disrupt all phases of the oil production and distribution process, thereby increasing the costs associated with any attempts to circumvent these prohibitions.