Twenty Tankers Subject to US Sanctions Cease Russian Oil Supplies, Reports Bloomberg

Since October 2023, two dozen of the 50 tankers that have come under US sanctions have stopped transporting Russian oil, according to Bloomberg.

According to the agency, oil was loaded onto only 18 tankers since the imposition of the restrictions. At the time sanctions were applied, another ship was already transporting a load. The remaining tankers are currently inactive. The agency also notes that seven tankers were idle even before being included in the sanctions list.

Over the past two months, Bloomberg reports that 14 tankers carrying Sokol oil to India have not reached their destinations, with nearly half having turned back. However, only three of those ships have been subjected to sanctions.

Acting Assistant Secretary for Economic Policy Eric Van Nostrand stated that the restrictions are “working” to deprive Russia of trade in energy resources necessary for profits from the Ukrainian war and to promote stability in energy markets.

As Bloomberg notes, the impact of the restrictions on Russian oil trade is difficult to assess, including due to the “secretive nature” of this trade.