A report shows how Russia has largely evaded sanctions aimed at limiting its revenue from oil sales.The New York Times reports that a recent study has revealed how Russia has been able to evade sanctions imposed by wealthy Western nations aimed at limiting its revenue from oil sales. Despite the implementation of an oil “price cap” almost two years ago, the report found that nearly 70% of the Kremlin’s oil is being transported on “shadow tankers” that are evading the restrictions. This has allowed Russia to continue financing its war against Ukraine, highlighting the challenges faced by advanced economies in intervening in global energy markets to put pressure on Russia. The Kyiv School of Economics Institute, which has advocated for tougher sanctions on Russian oil, also warned of the potential environmental risks posed by these shadow tankers, as they are often poorly maintained and not properly insured. The report emphasized the need for stricter enforcement of the sanctions to prevent a major disaster and protect the world’s oceans. 

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