Oil spill would bring the ‘sanctions hammer down’ on shadow fleet

An oil spill in Europe linked to the Russian trade will radically alter the political agenda and lead to punishing sanctions on the shadow fleet of tankers, the president of the Kyiv School of Economics has told TradeWinds.

Tymofiy Mylovanov, a former Ukrainian trade minister, said that a year of elections in 2024 — including in the US and UK, key members of the anti-Putin alliance — is diverting attention from the complexity of the Russian sanctions regime and the oil price cap.