All articles tagged with #oil shipping
The European Union is considering a full ban on maritime services—such as insurance and transport—used to move Russian oil, potentially replacing the current price-cap regime and choking Moscow’s oil revenue; this comes as a shadow fleet of tankers evades sanctions, with increasing risks from intercepts and Ukrainian attacks, and with any measure requiring unanimous EU approval.
The US has imposed sanctions on four traders accused of shipping Venezuelan oil, as part of its broader efforts to pressure Venezuela's government.
The EU has imposed sanctions on five individuals and four entities linked to Russia's shadow fleet and oil exports, aiming to weaken Russia's economic capacity to sustain its military actions in Ukraine, with measures including asset freezes and travel bans.
Tensions between the US and Iran following US airstrikes on Iranian nuclear sites are causing cargo ships to avoid the Strait of Hormuz, a critical global oil route, leading to potential disruptions in oil supply and increased market volatility, with some shipping companies halting or delaying transit through the region.
Two supertankers changed course in the Strait of Hormuz following US airstrikes on Iran, signaling potential rerouting of oil shipments amid rising Middle East tensions, with shipping advisories and increased freight rates reflecting heightened risks.