Bloomberg shows the consequences of sanctions against Russian tankers.

According to an analysis by Bloomberg oil strategist Julian Lee, Russia is facing problems with oil transportation due to U.S. sanctions.

In early January, the U.S. Department of the Treasury imposed sanctions against 161 oil tankers for their role in transporting Russian oil. The freight cost of tankers transporting Russian Urals crude to Asia has risen by nearly 50% following these measures, according to Argus Media.

The increase in delivery costs has also led to a widening price differential for oil as it leaves Russia and arrives in Asia. A large number of sanctioned tankers – 265 vessels blacklisted by the U.S., EU, or UK – have caused this situation.

Out of 435 vessels that transported Russian oil in 2024, 112 (26%) are now under Washington's sanctions. Including vessels sanctioned by London and Brussels, this share rises to 37%.

However, this does not fully reflect the problem, as the tankers that fell under U.S. sanctions transported 45% of all maritime Russian oil last year. When including vessels under sanctions from the UK and EU, this figure rises to 57%. Some tankers designated for transporting Iranian oil also carried Russian oil.

Russia needs to find alternative vessels to support its export program. The freight cost from the Black Sea to India has already reached $10 per barrel, while from the Baltic Sea it is $13, according to Argus. Some sanctioned vessels are idling off the Russian coast or in Chinese ports. If such issues become widespread, oil transportation problems for Russia could become critical.

It has also become known that Denmark will strengthen control over Russian tankers of the shadow fleet.