The Definitive Guide to Where the US Has Squeezed Russia's Oil Flows the Hardest
Source: Bloomberg
Last Friday, the US Treasury Department’s Office of Foreign Assets Control imposed restrictions on 158 oil tankers involved in the Russia trade, with the State Department targeting another three vessels. The measures were part of the most-aggressive round of sanctions on Russia’s oil trade by any Western power since the war in Ukraine began almost three years ago.
The oil market is still trying to pick apart the impact of the sanctions, which could redraw traders’ expectations for a global supply surplus in 2025. Brent oil has rallied $5 a barrel since the measures were introduced, with some predicting further gains.
Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, said Thursday he would support dialing up sanctions on the Russian oil industry to end the war in Ukraine. That might mean even more disruption when the new administration takes office.
Ship tracking shows that previous rounds of US sanctions have been highly disruptive. It suggests Chinese and Indian oil buyers have been wary of falling foul of the Treasury. Since OFAC began sanctioning tankers involved in Russia’s oil trade in October 2023, only two of the 39 tankers targeted before last week moved more than single cargo. Thirty three were essentially idled completely.
© 2025 Bloomberg L.P.
Read more: https://gcaptain.com/where-the-us-has-squeezed-russias-oil-flows-the-hardest/
If anyone is interested, the article gives details of what parts of Russia are being impacted by this. This makes it sound like there is still room to expand these sanctions further.