Impact of Sanctions on Russian Oil Tankers

Tankers carrying Russian oil in European waters must now prove they are adequately insured or face sanctions, significantly tightening restrictions on Moscow's shadow fleet. This change comes as over 125 ships have already been sanctioned, resulting in substantial costs for Russia that sourced these aging vessels from the secondary market. The sinking of two outdated oil tankers off Crimea has highlighted the urgent need for regulatory measures, prompting the international community, particularly Ukraine, to call for further sanctions. A system is being implemented to require insurance documentation from vessels navigating strategic maritime routes, escalating pressure on Russia's oil export operations.