Russian oil is hitching a ride around the world on a ghost fleet

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

🛢️ Russian oil is hitching a ride around the world on a ghost fleet.

Buyers across the globe are still buying up Russian oil, despite heavy sanctions layered by the US and the EU on the product. A “shadow” fleet of approximatley 600 large tanker vessels is speculated by industry experts to be transferring Russian oil under the radar - and it’s difficult to discern who exactly is controlling them. The expansion of this fleet signals the extreme changes Russia’s invasion of Ukraine have created upon the oil trade over the past year. In January, China and India both cut record high deals with Russian oil exports after Europe’s ban of Russia’s originated seaborne oil went into effect.

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Jennifer Joslyn
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