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The original was posted on /r/worldnews by /u/rtuidrvsbrdiusbrvjdf on 2023-11-19 19:10:25.
Russia's 'ghost ships' could be targeted at a sea choke point in a bid to enforce the West's oil price cap
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://www.businessinsider.com/russia-ukraine-war-ghost-ships-oil-price-cap-eu-crackdown-2023-11
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
The European Union has tasked Denmark with scrutinizing the so-called “ghost ships” Moscow uses to transport crude oil while avoiding Western price caps, the outlet reported Wednesday, citing three people familiar with the matter.
But Russia has managed to skirt those sanctions by using a “shadow fleet” of oil tankers, which can dodge the price cap by either submitting falsified financial statements or being covered by non-Western insurers.
The FT reported that the EU plans to task Denmark with inspecting and potentially blocking Russian ships that sail through the Danish straits, which tankers from the Baltic Sea pass through to reach international markets.
Russia sends the equivalent of two million barrels of oil through the straits daily, per the FT, accounting for 60% of its total seaborne crude exports.
Sources told the outlet that as well as seeking to reinforce its price cap, the EU is also concerned there’s a greater risk that Russia’s ghost ships, which tend to be older vessels without western insurance, could breakdown or suffer an oil spillage.
Blocking commercial traffic in the Danish straits would come close to a declaration of war," Hans Peter Michaelsen, an independent defense analyst, told Reuters.
The original article contains 366 words, the summary contains 196 words. Saved 46%. I’m a bot and I’m open source!