These shipments then continued to destinations such as China and India, which buy Russian crude at very favorable prices. Russian Urals blend sold for around $35 a barrel less than Brent.
Together they suggest that the operators looked for clandestine ways to transport Russian oil without attracting the attention of Western authorities.
Ami Daniel, chief executive of Windward, said transporting Russian oil had become “very, very profitable” since the conflict began.
He warned ship operators could gloom less often as the European Union cracks down harder on Russian oil.
Mr Daniel said: “It might help you for a trip, for a job, but in the long run [it’s] Probably not a good idea.”
He added that transferring oil between ships is “a good way to get off the radar or make it much harder to pick you up”, noting that similar methods have been used to transport sanctioned Iranian and Venezuelan oil.
Windward also found a “growing tendency” for Russian oil majors to sell their vessels to non-Russian companies, another way to potentially avoid scrutiny.
Since the start of the invasion, 180 of these vessels have seen their ownership transfer from Russian to non-Russian entities, roughly double the rate of transfers in 2021.
Mr Daniel said: ‘I don’t think they’re giving up control.’
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Source: www.telegraph.co.uk
This notice was published: 2022-06-02 13:37:52
