Russia has a "shadow fleet" of oil tankers to bypass western sanctions, the Financial Times reported. The EU has agreed on a $60 a barrel price cap on Russian oil after Poland wanted it set at just $30. Russia has assembled a "shadow fleet" of more than 100 oil tankers in a bid to bust western sanctions imposed following Vladimir Putin's invasion of Ukraine, the Financial Times reported. Russia assembled what the industry described as the "shadow fleet" in a bid to counter new sanctions. Rystad analyst Viktor Kurilov told the newspaper: "Russia needs more than 240 tankers to keep its current exports flowing."

Source: News 24 December 03, 2022 15:58 UTC