Articles by Julian Lee

Russia Faces Impending Oil Tanker Crisis as Sanctions Pile Up: Bloomberg Oil Strategist

Russia appears to be on the cusp of a debilitating oil-freight transportation problem because of US sanctions, writes Bloomberg oil strategist Julian Lee. On Jan. 10, the US Treasury sanctioned 161 oil tankers for their role in moving Russian oil. …

London-Based Ship Registry Helps Russia Oil Tankers Keep Running

Three oil tankers that are under British sanctions for transporting Russian petroleum are sailing under the flag of a nation that bases its operations in London. The Galaxy, the Liberty and the Rigel, all of which moved barrels for Moscow …

Russian Tactics Make Secret Tanker Oil Switching Harder to Trace

Two near-identical oil tankers trying to beat western sanctions. A secret transfer of Russian crude halfway between Iran and Oman. A supertanker giving a false location. Welcome to the modern trade in Russian petroleum as western sanctions get tougher. Earlier …

Russian Oil Tanker Does Secret Cargo Switch Near Singapore to Dodge US Sanctions

The first Russian oil tanker attempting to deliver crude while under US sanctions made a secret cargo transfer onto another ship, a sign of the lengths to which Moscow is going to undermine the effectiveness of American restrictions on its …

Nearly All Sanctioned Russian Oil Tankers Remain Idle and Empty Months After Sanctions

Dozens of tankers remain stuck doing nothing months after being sanctioned by the Treasury Department — a signal of the US’s scope to disrupt Moscow’s petroleum supply chain if it chooses to. Since October, 40 ships involved in Russia’s oil …

Russia’s Oil Is Finally Getting Snarled by Sanctions

The Russian oil-export machine funding the Kremlin’s war in Ukraine is finally getting some grit in its gears. Indian oil refiners — Moscow’s second-biggest customers after China since the 2022 invasion — will no longer accept tankers owned by state-run …

Update: Tankers Tied to the Russian Oil Trade Grind to Halt Following US Sanctions

A chunk of the vast fleet of tankers that Russia uses to deliver its crude oil is grinding to a halt under the weight of US sanctions, a sign that tougher measures by western regulators might be starting to have …

Russia Oil Tankers Are Doing Strange Things Since Ramp Up of US Sanctions

There are growing signs that Russia’s oil flows might be facing disruption in the aftermath of a ramp up in US sanctions targeting traders and shipping companies moving the nation’s petroleum. Over the past month or so, a total of …

Ukraine’s Drone Attack Hasn’t Yet Jolted Insurance Costs for Black Sea Oil Carriers

A drone attack on a Russian oil tanker and a warning from Kyiv that more could follow has so far had little impact on insurance costs for oil and commodity carriers in the key Black Sea region, as rates were …

Russia-Linked Oil Tanker Fleet Vanishes Even Faster Than It Grew

A fleet of tankers that sprouted up out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, underscoring the challenges involved in keeping track of who’s helping Moscow to get its petroleum to buyers around …