New U.S. sanctions against Moscow and Iran have increased oil prices
Following the implementation of new U.S. sanctions against several Russian oil companies and 183 oil tankers carrying Russian and Iranian oil on Saturday of the current week, the oil transit rate from the Middle East to China rose by 39%, and the price of oil from the Arab Gulf countries also increased.
Reuters news agency reported on Tuesday, January 15, that the current freight rate for large tankers capable of carrying 2 million barrels of oil has surged to $37,800, which is a 39% increase compared to last Friday.
On January 12, the U.S. Department of the Treasury sanctioned 183 oil tankers carrying Russian oil to China and India, at least eight of which were also involved in smuggling Iranian oil.
Statistics from Lloyd’s shipping company show that currently 35% of the 669 tankers known as the shadow fleet or ghost fleet, which are secretly involved in smuggling oil from Iran, Russia, and Venezuela, have been sanctioned by the U.S.