US Sanctions Six Russian Tankers Under Construction

The U.S. has imposed sanctions on six Russian oil tankers still under construction at the Zvezda shipyard, marking the first time such measures have been applied to vessels before they have even set sail. This action, part of a broader sanctions package targeting over 180 vessels and numerous entities in Russia's energy sector, aims to disrupt Moscow's oil exports and thwart its fleet expansion efforts. The sanctions have resulted in a spike in oil prices and increased shipping costs, directly affecting the buyers, Sovcomflot and Rosnefteflot, both of which are also under U.S. sanctions. Experts suggest that these restrictions could lead to a significant shortage of tankers available for Russian oil exports, as over 60% of the targeted vessels have already entered Russian ports. Analysts believe that completing the sanctioned ships may become economically unviable for Russia. The sanctions are seen as a critical step in enforcing a price cap on Russian oil set by G7 countries.