Russia’s Oil Tanker Fleet in Trouble
Sanctions are making it hard for Russia to move its oil. The U.S. and U.K. have made rules that affect Russia’s shipping network.
Some ships that help Russia avoid sanctions will no longer be able to use certain flags. This means they’ll have to change who they fly their flag from. The Barbados Ship Registry, which follows U.K. rules, is taking away the flags of 46 vessels. These ships were allowed to use a special flag because it didn’t have its own rules about sanctions.
Another country, Panama, has also started taking away the flags of some ships. They’re following the same rules as the U.S., E.U., and U.N. This is happening because these groups are all working together to stop Russia’s oil from being sold.
Indian banks are also helping by not letting money be sent for Russian oil imports. This means it’s harder for Russia to sell its oil at sea. As a result, many ships have stopped operating since the new rules were put in place.