EU Sanctions May Put a $16B Hole in Russia’s Tanker Fleet

Russia may have to expand its own tanker fleet and attract more tonnage from non-western owners in order to keep moving oil after upcoming EU sanctions – and the details suggest that it will be costly. 

In a market report released Friday, shipbroker Gibson said that it expects that more than 200 tankers may have to exit Russian trades before December 5, when the EU’s Russian oil shipping ban (or, if revised, a “price cap”) goes into effect.

View entirety: The Maritime Executive