They are instead using local tankers or vessels from the countries they sell oil to, as well as the notorious “shadow fleet” that the UK’s government just sanctioned this week, targeting 135 tankers and two Russian companies, one of them the trading arm of oil major Lukoil. If a country is a net exporter of crude oil, it’s fine if it uses Russian crude to refine it into fuels it can then sell to the EU—again, likely at a higher price than Indian imports. If the EU decides to deploy the ACI against the U.S., Trump may change his mind—and those tariffs are arguably the only way to actually harm Russia’s oil revenues, albeit for a short while.
Author: Irina Slav
Published at: 2025-07-23 23:00:00
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