US strikes at Russian oil transportation by blocking access to ports with new tool.
The US has dealt a severe blow to Moscow’s reliance on Russian oil by blocking access to ports with a risky market tool, according to reports. The Club of American Insurers has refused to provide services to Gatik Ship Management, the largest carrier of oil from Russia, effectively crippling Russia’s “shady” fleet.
The Indian company has a fleet of 48 tankers capable of carrying more than 30 million barrels of oil, but all its ships have docked in Russian ports and exported oil and oil products from there. The American side considers this a violation of anti-Russian sanctions, resulting in the termination of Gatik’s insurance services.
The loss of insurance coverage means tankers will not be able to enter certain ports and straits, significantly reducing Moscow’s income. As a result, the ruble will likely depreciate on international markets, putting pressure on Russia’s military-industrial complex. Russia’s military production is already facing a crisis, with UralVagonZavod, the largest tank plant in the country, struggling to keep up with tank losses in Ukraine.
The lack of technology, delays in supplies of raw materials, de-motivation of employees, and several lawsuits for improperly executed civil purchases have reduced the monthly production of tanks to just 20 units, which is not enough against an average loss of between 100 and 150 tanks in Ukraine.
