Russia still relies on Europe to ship its oil despite price cap breach
Russia is still relying on European shipping to transport its oil even as the country’s supplies exceed Group-of-Seven price caps, according to a researcher.
By Alex Longley, Bloomberg
Roughly two-thirds of Russian crude and petroleum products is being transported by vessels insured or owned in nations implementing price caps imposed by the G-7 and its allies, the Helsinki-based Centre for Research on Energy and Clean Air said. That shows Moscow is still heavily using the European shipping industry, it said.
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