The US is preparing new sanctions against Russia’s shadow fleet.
The administration of US President Joe Biden plans to impose additional sanctions on tankers carrying Russian oil, Reuters writes. According to sources in the publication, the Biden administration plans to impose sanctions on tankers carrying Russian oil sold above the Western limit of $60 per barrel.
Russia uses its so-called shadow fleet of old ships to circumvent this restriction. Experts say that many of these vessels are less safe and prone to oil spills. After Russia invaded Ukraine in February 2022, the US imposed sanctions on dozens of such ships from a fleet estimated to number hundreds of vessels to reduce its ability to finance the invasion.
“This will be a large package,” one source said.
Another source said the sanctions would likely also include measures against individuals involved in some networks that trade oil at prices above the upper limit.
In late December, the EU was preparing sanctions against the Russian shadow fleet following damage to undersea cables in the Baltic Sea.