Page 158 - RusRPTJun24

depending on future output and OPEC+ policy decisions.
Russia rapidly expands its shadow tanker fleet to replace those sanctioned by OFAC. Since Dec 2023, 35 new tankers were added, all 15+ years old and managed outside the EU/G7. Kpler data shows 9 were involved in loading Iranian oil in Iran or via STS operations in 2021-2023. In December 2023, the UK also imposed sanctions on 4 UAE registered shipping companies. These UAE shipping firms passed tankers to other, mostly Emirati, managers. The vessels changed management and continued providing commercial services.
158 RUSSIA Country Report June 2024 www.intellinews.com