Russia sells oil under false documents to circumvent sanctions
In addition, ships transship oil at sea, concealing its country of origin
Russian producers falsify documents when selling oil, passing it off as gasoline to circumvent sanctions and sell oil products at a price higher than the ceiling.
Source. Bloomberg writes about this with reference to sources familiar with the matter, as well as data from analytical companies FGE and Kpler.
In addition to replacing documents, Russian companies use another method – tankers with oil products leave ports without specifying their destination. This complicates cargo monitoring, as the vessel can transship goods at sea and mix Russian oil products with others, making it more difficult to trace the origin of the fuel.
According to Kpler, in March 2023, approximately 25% of Russian tankers did not indicate their final destination.
Problems with oil sales for Russian companies arose after the G7 countries introduced a price ceiling in February. It was set at $45 per barrel for oil products sold at a discount and $100 per barrel for clean products such as gasoline.
Background. As reported, Japan continues to buy oil from Russia at prices higher than the ceiling set by the G7.
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