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Sixty-five oil tankers paused operations in various places around the world following the recent U.S.-U.K. sanctions against Russia’s oil industry and shadow fleet, Reuters reported on Jan. 13, citing maritime tracking data.According to the news agency, five of those tankers were anchoring off China and Singapore, while others were idling in the Baltic Sea and near Russia’s Far East.The latest sanctions targeted more than 180 oil-carrying vessels of Russia’s so-called shadow fleet, a group of aging tankers routinely used for sanction evasion. Several of these vessels are also reportedly involved in transporting sanctioned Iranian oil.Experts cited by Reuters said the latest measures drove up prices of tankers as demand for non-sanctioned vessels grew.The recent sanctions also targeted two of Russia’s major oil producers, Gazprom Neft and Surgutneftegaz, along with dozens of their subsidiaries.Combined, these companies reportedly produce over 1 million barrels of oil daily, generating an estimated $23 billion of revenue annually, according to the U.S. Treasury Department.The sanctions also extend to dozens of Russian energy officials and corporate executives, further tightening restrictions on Moscow’s oil industry.US, UK impose sweeping sanctions on Russia’s oil sector, target shadow fleet“The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine,” Treasury Secretary Janet Yellen said.
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