US President Donald Trump is aiming to impose sanctions on Russia's so called shadow fleet of oil tankers unless Moscow agrees to a ceasefire in Ukraine by August 8. The fleet, which has allowed Russia to bypass international price caps on its oil exports, primarily supplies China and India, APA reports citing Financial Times.
This potential action comes after escalating tensions between the US and Russia, with Trump becoming increasingly frustrated by Russian leader Vladimir Putin's refusal to engage in peace talks. Trump has also been vocal about his dissatisfaction with India's continued purchase of Russian oil, which he plans to target with significant tariff hikes.
The sanctions, which would target individual vessels in Russia’s fleet, aim to increase the pressure on Moscow by cutting off access to Western markets. Previous sanctions on Russian oil tankers, including 213 vessels, have already impacted the fleet's productivity, with the sanctioned ships seeing a drastic reduction in the amount of Russian crude they transport, according to Financial Times.
Trump's administration has also considered secondary sanctions on countries facilitating trade with Russia, further expanding the economic pressure. The introduction of secondary sanctions and the potential for steep tariffs on countries buying Russian energy products signals a shift toward more aggressive measures if Russia continues its refusal to negotiate.
