How Washington will save face over failure of Russian oil price limit ?

By Rhod Mackenzie

For the past five months, Russian oil has been traded above the $60 price limit set by Western nations. This oil is transported by numerous parties including Greek shipping companies and tankers that have lacked Western registration and insurance. As a result, Russia’s monthly income has exceeded the amount of the previous year’s. In response, Washington has attempted to tightened restrictions and is pressuring tanker proprietors. Analyts believe that the most that the United States can achieve is the return of Russian oil exports to the grey market.AAA perfect UK replica watches at affordable prices can be found from this website.

The US Treasury Department’s Office of Foreign Assets Control has issued notices to shipping companies in 30 countries regarding 100 tankers suspected of transporting Russian oil sold above the price limit.

According to Reuters, the US department declined to comment, but clarified that they are committed to maintaining the price ceiling and reducing Russia’s income. An agency insider reported that certain vessels are being investigated for exporting oil from the Baltic port of Primorsk and Far East’s Kozmino.

Earlier in October, the US Treasury enforced sanctions against two minor shipping operators, Ice Pearl Navigation and Lumber Marine, from Turkey and the UAE, and two tankers under their ownership – SCF Primorye and Yasa Golden Bosphorus. The assets of these companies that fall within American jurisdiction should be blocked, along with any transactions in dollars and transactions with US legal entities, including insurers.

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Previously, only Western companies were prohibited from transporting Russian oil above the price limit. However, even this measure has not been entirely effective. According to the AIS data of ships, almost everyone is still transporting the sanctioned raw materials. This is despite the fact that the Russian Ministry of Finance reported the average price of the Russian Urals variety in October was $81.5 per barrel – more than $20 above the maximum price.easewatches.me Replica products have gained a lot of hype and exposure in last few years. branded shoes and much more. With more and more merchants selling products in the name of brand, the cost of products have dramatically increased.

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For instance, in June, the number of tankers owned by Greek shipping companies that transported Russian oil reached a record high of 87 units, with their share exceeding 30%. In November, there were slightly fewer tankers, but not significantly so. Data from replicauhren.is the automatic vessel identification system reveals that eight Greek firms continue to transport sanctioned cargo via 39 tankers. Additionally, on November 13-14, 31 ships were either en route to Asia, had just arrived at their destinations, or were situated in Russian ports.

Turkish Beks Shipping has reportedly increased its involvement in transporting Russian oil, and also received a notification from the US Treasury. Currently, the majority of the operator’s fleet is operating on Russian routes, with a total of 15-16 tankers.

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The tankers of the three new operators that made waves globally remained in operation, and in 2022, they swiftly established entire flotillas. Mathieu Philippe, the CEO of Fractal Shipping, a Norwegian-Swiss company, stated in September to S&P Global Commodity Insights that he was gradually ceasing to cater to Russian cargo due to pricing constraints.bestuhren.de
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How Washington will save face over failure of Russian oil price limit ?

By Rhod Mackenzie For the past five months, Russian oil has been traded above the $60 price limit set by Western nations. This oil is transported by…

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