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Russian oil tankers that are still being constructed have been included in the U.S. sanctions

Six oil tankers currently under construction at Russia‘s Zvezda shipyard have been included in the U.S. sanctions announced last week. This marks the first instance where Washington has imposed sanctions on tankers prior to their launch or the transportation of any sanctioned cargo.

The recent sanctions led to an increase in oil prices and a rise in tanker shipping costs, as the outgoing Biden administration aimed to undermine Russia’s oil exports and obstruct Moscow’s efforts to develop its own shipping fleet.

A review by Reuters indicated that the six tankers at Zvezda are part of a broader list of 183 vessels affected by the sanctions. The tankers include the Nursultan Nazarbayev, the Alexander Beggrov, the Alexey Bogolyubov, and three unnamed vessels: Zvezda 131080, Zvezda 131060, and Zvezda 131040.

According to the sanctions documentation, Russia’s Sovcomflot is the purchaser of the Alexander Beggrov and the Alexey Bogolyubov, while Rosneft’s shipping subsidiary, Rosnefteflot, is acquiring the remaining four tankers. Both entities are also subject to U.S. sanctions.

Requests for comments from Rosneft and the shipyard’s representative went unanswered. The ministry of transport and Sovcomflot also declined to provide comments. The U.S. Treasury Department’s Office of Foreign Assets Control did not respond immediately to inquiries for comment.

These sanctions are aimed at disrupting the so-called “shadow fleet” that Russia has utilized to circumvent a price cap established by the G7 nations in late 2022, which prohibits insurance and shipping services from Western providers for Russian oil sold at prices exceeding $60 per barrel.

Imposing sanctions on ships that are still under construction could complicate Russia’s ability to justify the expenses associated with their completion, according to an industry insider involved in Russian oil trading.

Following the sanctions, Russia is anticipated to experience a tanker shortage for its oil exports, as over 60% of the oil tankers recorded have recently docked at Russian ports, according to shipping data analyzed by Reuters.

This deficit in available vessels for Russian oil has already resulted in a significant increase in global freight rates. Zvezda, founded in 2015, stands as a prominent Russian shipyard and is the sole facility in the country capable of constructing large-capacity oil and gas vessels. This shipyard was also impacted by the U.S. sanctions imposed last week.


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Asif Shahid
Asif Shahidhttps://defencetalks.com/
Asif Shahid brings twenty-five years of journalism experience to his role as the editor of Defense Talks. His expertise, extensive background, and academic qualifications have transformed Defense Talks into a vital platform for discussions on defence, security, and diplomacy. Prior to this position, Asif held various roles in numerous national newspapers and television channels.

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