Sanctions not working? Expansion of Russia's "shadow fleet" of oil tankers continues - Reuters

Russia's "shadow fleet" of oil tankers has expanded following a series of Western sanctions over the war in Ukraine. This was reported by UNN with reference to Reuters.

Details

As Saad Rahim, chief economist at major trading company Trafigura, noted, the "shadow fleet" plays a key role in ensuring the supply of Russian oil to buyers, despite sanctions aimed at limiting Russia's oil revenues.

This year, the "shadow fleet" has grown more slowly, but it continues to expand as new vessels often replace those that have been blacklisted, the expert says.

He also noted that US tariffs have so far had a limited impact on the global economy and fuel demand.

The main thing about tariffs is that we haven't seen their impact on demand yet

He added that companies in the US had inventories accumulated before the tariffs were introduced, which they were able to sell at prices that did not yet have to be passed on to consumers.

Recall

Earlier, UNN reported that one liquefied natural gas tanker from the sanctioned Russian Arctic LNG 2 project docked at a Chinese port.