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At least 65 oil tankers have dropped anchor around the globe following the announcement of new U.S. sanctions, according to a Reuters report. This development may be one of the earliest indicators confirming expert forecasts that the new restrictions will significantly disrupt Russian oil supplies.
According to ship tracking data from LSEG and MarineTraffic, at least five tankers have stopped near China and seven near Singapore, with the rest having anchored off Russia's coast in the Baltic Sea and in the Far East.
On Friday, the U.S. Treasury announced sanctions against Russian oil producers Gazprom Neft and Surgutneftegaz, along with 183 vessels involved in transporting Russian oil. The move is aimed at cutting off revenues Moscow uses to fund its war in Ukraine. Analyst estimates cited by Reuters indicate that the affected vessels account for close to 10% of the global oil tanker fleet. Previous sanctions immobilized an additional 25 vessels.
A separate Reuters report, citing analysis by Lloyd’s List Intelligence, indicated that the latest U.S. measures mean that approximately 35% of the 669 “shadow fleet” tankers used for transporting Russian, Venezuelan, and Iranian oil have now been sanctioned by the U.S., Britain, or the European Union.
Daleep Singh, the Deputy National Security Advisor for International Economics in U.S. President Joe Biden's outgoing administration, described the measures as the “most significant sanctions yet on Russia’s energy sector, by far the largest source of revenue for (President Vladimir) Putin’s war.” Analysts estimate that the sanctions have affected at least 42% of Russia's total seaborne crude oil exports.
Reports recently confirmed that Chinese ports are now refusing to accept Russian oil tankers due to the new sanctions. Bloomberg has reported that India, one of the largest buyers of Russian oil, also intends to stop accepting Russian tankers recently sanctioned by the U.S.