WORLD – NEWS
ERR, citing the Financial Times, reports that an Iranian “shadow fleet” is helping Russia supply black gold to the world market. According to an FT study, at least 16 Iranian oil tankers currently carry Russian oil.
Last year, Western countries set a price ceiling of $60 a barrel for Russian oil. Because of these measures, Russia is selling crude at a deep discount. Analysts say Russia now has to pay tanker owners extra money to keep supplying oil.
“According to our data, a number of tanker companies that used to carry Iranian barrels are now doing business with Russia. Russia is paying extra money, so Russian oil is more attractive than Iranian oil,” said Svetlana Lobacheva, an analyst at British brokerage EA Gibson.
According to analysts, the tanker market is expected to deteriorate in the coming weeks, and while Iran continues to support Russia’s military actions, competition for tankers could create tensions between Tehran and Moscow.
Additional restrictions on Russian oil products came into force on 5 February. Previously, Russia had already diverted most of its crude oil to the Asian market. Now Moscow will be forced to do the same with its oil products.