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Published 17 days ago

Growing Shadow Fleet Makes Oil Price Cap Impossible to Police

Summary by Oil Price

UK-based International Group of P&I Clubs, a global insurance company, says a growing shadow fleet is making it less and less viable to police the G7 price cap on Russian oil, Bloomberg News reports, citing a briefing to the UK government. The UK-based insurance group notes that 800 oil tankers that it used to insure have switched over to the shadow fleet to transport sanctioned Russian oil being sold above the $60 price cap. Furthermore, the …

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Growing Shadow Fleet Makes Oil Price Cap Impossible to Police

UK-based International Group of P&I Clubs, a global insurance company, says a growing shadow fleet is making it less and less viable to police the G7 price cap on Russian oil, Bloomberg News reports, citing a briefing to the UK government. The UK-based insurance group notes that 800 oil tankers that it used to insure have switched over to the shadow fleet to transport sanctioned Russian oil being sold above the $60 price cap. Furthermore, the …

17 days ago·London, United Kingdom

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