The G7 countries reduced the transport of Russian oil.
Russian oil exports by G7 tankers fell sharply in October as Greek operators, attracted by high profits elsewhere, avoided the Black Sea, Platts said.
CAS analysts noted that 4 Apermax-class ships and 4 Suasmax-class ships owned by Greek companies moved from the Russian market to other markets.
The registered tankers, owned or operated by companies based in the G7 countries and their allies, or insured by Western insurance companies, loaded about 906,000 barrels of Russian oil per day in October, which accounted for 24.2% of total exports. This share was the lowest in 7 months. In September, G7 tankers carried 1.2 million barrels per day, or 29.2% of total exports.
The fleet, made up mostly of shadow tankers built by Russia to circumvent Western sanctions, handled 2.8 million barrels of Russian oil a day in October. For comparison, in September this figure was 2.9 million barrels per day. In October, tankers owned by Hong Kong companies transported 27.7 million barrels, Russian companies - 22.5 million barrels and United Arab Emirates companies - 15.6 million barrels.