The US government’s crackdown on tankers hauling Russian oil increased shipping costs by 65% as European-linked vessels moved out of the trade, according to the International Energy Agency (IEA).
The US has blacklisted eight ships in three tranches since 12 October over alleged breaches of the oil price cap.
European hauliers have continued to haul around 30% of Russian oil since the price breached the price cap in July of $60 per barrel, but the sanctions have largely targeted Russian ships and entities, said the IEA.
