In October and early November, the United States imposed sanctions on five tankers carrying Russian oil. Washington said that the ships were insured by American companies, while they themselves violated restrictions and transported oil above the price ceiling set by the G7. Four of the five tankers are owned through subsidiaries by the Russian Sovcomflot. All ships stopped. The Russian shipowner promises to challenge the sanctions.
After the introduction of US sanctions, tankers subject to restrictions do not operate voyages. Three Sovcomflot vessels – Kazan, Ligovsky Prospekt and SKF Primorye – have not been sailing on routes since the beginning of November. According to the ships’ AIS data, two tankers are docked in Chinese ports, and one is in Murmansk.
The tanker NS Century, in turn, was heading to the Indian Vadinar with a cargo of Far Eastern oil. However, on November 18, after the announcement of sanctions, it switched to maneuvering off the coast of Sri Lanka and did not return to the route for the fifth day. The ship was previously scheduled to arrive in India on November 25.
The United States said it imposed sanctions because the ships were transporting oil at prices above the ceiling and they were insured by American companies. Apparently, Sovcomflot is now looking for opportunities to reinsure the tanker outside American jurisdiction.
At the same time, the Russian shipowner said that he would appeal the decision of the Office of Foreign Assets of the US Treasury Department. This was reported by the specialized publication The TradeWinds. According to him, Sovcomflot reported unfair treatment.
The sanctions imply that the assets of subsidiaries operating tankers in US jurisdiction will be blocked, as well as any transactions. It is also prohibited for American legal entities and individuals to enter into transactions with them, except in emergency situations.
Sovcomflot itself is under EU and US sanctions, while its Dubai division Sun Ship Management is under EU sanctions. It is unknown how much the restrictions will affect the activities of the courts. Until recently, the shipowner managed to circumvent the restrictions with a fleet of about 80 ships. According to Reuters, almost the entire Sovcomflot fleet was transferred to the Indian IRClass register.
The agency also reported that the Russian company registered another company, Oil Tankers SCF MGMT FZCO, and transferred 45 tankers to it since July. Traders explained that this would make it easier for tankers to receive services, including bunkering and insurance.
As reported EADaily For the fifth month, Russian oil has been trading above the price ceiling set by Western countries, and it continues to be carried by everyone from Greek shipping empires to tankers that were previously deprived of Western registration and insurance. In this situation, Russia’s monthly income exceeded last year’s, and Washington began to tighten the screws and put pressure on tanker owners. Experts believe that the maximum effect that the United States can achieve is to scare carriers and return Russian oil exports to gray schemes, since Washington itself is interested in maintaining supplies of raw materials from Russia to the world market.
2023-11-22 10:59:00
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