G7 is preparing new measures against Russia's shadow fleet and compliance with the oil price ceiling: what is known about the circumvention of sanctions
Kyiv • UNN
Russia is using old unmarked tankers to illegally transport oil around restrictions, and some countries are violating the price ceiling agreement
The G7 finance ministers have promised to step up efforts to prevent Russia from avoiding sanctions imposed after the start of the full-scale invasion. Writes UNN with reference to The Gurdian.
"We remain committed to further initiatives in response to the violation of the oil price cap," the group said in a statement after the meeting in Washington.
The next steps themselves were not spelled out in detail.
The G7 also said it would introduce additional measures to "increase the costs to Russia" for using the shadow fleet to circumvent sanctions.
According to officials, Russia is using a fleet of shadow tankers, many of which are old, unmarked and in poor technical condition, to circumvent sanctions by transporting oil without properly declaring cargo or routes.
Some tankers load or reload oil in the open sea to avoid unwanted attention.
The United States and the EU have imposed sanctions on some of these ships and their owners, including the Russian state-owned shipping company Sovcomflot.
In addition, despite the agreements reached earlier at the international level, some countries, such as China, continue to import Russian crude oil without complying with the price ceiling established.
According to the U.S. Office of Foreign Assets Control, which was also voiced at the G7 meeting , Russian financial institutions have created a network of foreign subsidiaries to facilitate the purchase or sale of sanctioned goods.
Recall
The United Kingdom imposed sanctions restrictions against 18 Russian oil tankers and 4 liquefied natural gas tankers.
