Image credit: Anatoly Menzhiliy/Shutterstock.
Three oil tankers recently hit with UK sanctions are now in the Baltic Sea. Two are expected to load oil in Russian ports soon. This activity will show how effective the UK’s attempt to target Russia’s oil trade actually is.
What’s Happening:
- Three oil tankers and a chemical/oil products tanker were sanctioned by the UK in June. This is part of a broader effort to hurt Russia’s economy in response to the war in Ukraine.
- One of the tankers, the Robon (formerly named Turba), is known for secretly transporting Russian oil. It’s currently anchored near Ust-Luga, Russia, along with three other sanctioned tankers.
- Another tanker, the Ocean AMZ, is near the Estonian port of Tallinn. It was supposed to load oil at Ust-Luga, but may have been replaced by another tanker.
- The third tanker, the NS Laguna, is on its way to Ust-Luga and could be used to transport oil later this month.
- The chemical/oil products tanker Canis Power is currently in a shipyard in Turkey.
What to Watch:
- Will the sanctioned tankers be able to load and sell oil as usual?
- How will Russia respond to the UK’s sanctions?
The Context:
- The US previously sanctioned some of these tankers, but some managed to find ways to keep operating.
- The UK’s sanctions are a new test for Russia’s ability to sell its oil despite international pressure.