Russian Oil Evades Price Cap as Shadow Fleet Expands

Despite Western sanctions, Russia continues to export oil through a growing network of unregulated tankers, raising environmental and economic concerns.

Nearly 70% of Russia's seaborne oil exports are circumventing the G-7 price cap, largely due to the use of 'shadow tankers'.
Russia's shadow fleet, consisting of older, unmarked vessels, poses significant environmental risks, with reports of near-miss incidents at sea.
The discount on Russian oil has narrowed significantly, indicating increased demand from countries like China and India, despite the sanctions.
Efforts to enforce the price cap face challenges, as stricter measures could disrupt global oil prices and supply chains.
Analysts warn that the increased use of dark fleet vessels compromises maritime safety and could lead to costly oil spills.

The Sydney Morning Herald