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Russia to Rely on ‘Shadow Fleet’ of Oil Tankers

by DTB
February 11, 2023
in NEWS
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https://www.wsj.com/articles/russia-will-rely-on-shadow-tanker-fleet-to-keep-oil-flowing-11670036535

Whether the world’s biggest crude exporter succeeds in skirting harsh sanctions starting Monday depends on a non-Western aligned fleet

Oil is Russia’s economic lifeblood and key to funding its war in Ukraine.
Oil is Russia’s economic lifeblood and key to funding its war in Ukraine. Alexander Ryumin/Zuma Press

Updated Dec. 3, 2022 9:10 am ET

Shipping companies have snapped up dozens of secondhand oil tankers this year, paying record prices for ice-class ships that can navigate frozen seas around Russia’s Baltic ports in winter.

A driving force behind the purchases, say people familiar with the deals: To get Russian oil to market after the harshest sanctions to date strike Russia’s energy industry next week.

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