Source: CNBC
“Oil-linked shipping costs rallied after last week’s announcement of tighter U.S. sanctions to drain Russia’s war coffers, in a move that poses significant threats to Moscow’s maritime distribution chains. On Jan. 10, the U.S. Treasury Department announced fresh measures to deplete Russia’s energy revenues, including sanctions against key producers Gazprom Neft and Surgutneftegas, along with 183 vessels that were ‘largely oil tankers that are part of the shadow fleet as well as oil tankers owned by Russia-based fleet operators.’ The Treasury added that several of the designated tankers had transported both Russian and Iranian oil, and further extended sanctions to Russia-based maritime insurance providers Ingosstrakh Insurance Company and AlfaStrakhovanie Group.” (01/16/25)
https://www.cnbc.com/2025/01/16/us-sanctions-on-russia-hit-oil-freight-rates.html