Category: Latest news

Dozens of Russian Oil Tankers Forced to Anchor Due to US Sanctions

Jan 14, 2025 11:07

1 min read

Authors: Amira Barkhush
Author

12 January 2025, the unmaneuverable tanker "Eventin" is lying in the Sassnitz roadstead. The tanker, which is loaded with around 99,000 tons of oil, is to remain there until a decision has been made on how to proceed. (Source: Getty Images)

At least 65 Russian oil tankers were forced to anchor and suspend shipments after the US imposed its toughest sanctions on Russia’s oil and gas sector on January 10.

This was reported by Reuters on January 13, citing analysis based on MarineTraffic and LSEG ship tracking data.

Five of these tankers remained stationary near Chinese ports, while another seven anchored off Singapore. Other vessels halted near Russia in the Baltic Sea and Russia’s Far East.

According to market estimates, average daily earnings for supertankers surged by over 10% on Monday compared to the previous day, reaching approximately $26,000.

“Increased demand for exports to India and China from outside Russia will increase non-sanctioned tanker demand,” trade analytics platform Kpler said on January 13.

On January 10, the Biden administration announced its most comprehensive sanctions package yet, aimed at Russia's energy sector. Described as the toughest measures to date, the sanctions target Russia’s oil and liquefied natural gas industries, with officials estimating potential economic losses of billions of dollars per month.