Tanker Companies Race To Ship Russian Oil Ahead Of New Sanctions

Western sanctions have so far failed to crush Russia’s oil exports as Moscow is redirecting crude to its more than willing Asian buyers, China and India.  European vessel owners, especially private Greek operators, are moving a lot of the Russian oil in the months before the EU ban on seaborne Russian oil imports kicks in at the end of this year. Greek tanker owners have increased their exposure to Russian oil shipping in the past two months as they race to profit from the higher demand for heavily discounted Russian oil in China and…