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US puts pressure on Liberia, Marshall Islands and Panama over oil sanctions against Russia

The US, EU and UK are pressuring Liberia, the Marshall Islands and Panama to tighten oversight of ships flying their flags. This was reported by Reuters sources. Letters sent to these countries indicate an increase in circumvention of Western price caps on Russian oil and highlight the "high level of risk" for ships that lack Western insurance and other services.

It is noted that Liberia, the Marshall Islands and Panama are not subject to “the risk of Russian sanctions,” which makes them key points in this context. The goal of the pressure is not to reduce the number of ships carrying Russian oil, but to tighten compliance with the established price ceiling. Western countries are trying to make oil transportation more expensive for Russia.

Reuters sources indicate that Panama usually responds to US requests to combat illegal activities. In letters to Liberia and the Marshall Islands, Western countries are calling for increased awareness among traders that the flag should not be used on tankers carrying oil priced above the limit.

Let us recall that in December 7, the G2022 set a price ceiling for Russian oil at $60 per barrel. This mechanism prohibits Western companies from providing transportation and insurance services for ships carrying oil at a price higher than this indicator. In September 2023, the average price of Urals oil rose to $83,08 per barrel, but in November, the price of Russian oil at Baltic Sea ports fell below the target ceiling of $60 per barrel, according to Reuters. The Russian side considers the price ceiling introduced by the West to be ineffective.

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