Russia shifts to Hong Kong tankers as Greek operators exit Black Sea

AI Summary

Russia shifted to using Hong Kong tanker operators for seaborne crude oil sales after Greek tankers exited the Black Sea due to increased maritime attacks. This shift favors tankers flagged and operated by non-G7 countries not insured in the West.

Russia turned to non-G7 tankers for seaborne crude sales to foreign buyers in August, especially those operated by Hong Kong companies, as Greek tanker firms steered clear of the Black Sea amid an escalation in maritime attacks. Tankers flagged, owned and operated by companies not based in G7 countries and their allies, and not insured ...