Russia’s Tanker Fleet Too Small to Bypass Oil Price Cap

By Noah Browning and Julia Payne

LONDON, Nov 23 (Reuters) – Russia’s oil tanker fleet is too small to fully circumvent a plan by the European Union, G7 countries and Australia to enforce a price cap on its maritime crude exports starting on Dec. 5, analysts and market watchers say.

The amount Russia would be unable to export is expected to increase when EU sanctions on Russian refined product shipments take effect on Feb. 5.

View entirety: Reuters