"Global Crackdown: Impact of US Sanctions and Price Caps on Russian Tanker Trade"

The US has imposed sanctions on Russia's leading tanker group Sovcomflot in an effort to reduce Russia's revenues from oil sales that could be used to support the invasion of Ukraine. The sanctions target 14 crude oil tankers and freeze any US assets of those targeted, while also issuing general licenses allowing the offloading of crude oil from the vessels for 45 days. This move is part of Western efforts to add costs to the shipping of Russian crude oil and oil products, ultimately limiting Russia's revenue from oil sales.