Seven Oil Cap-Compliant Tankers Sail From Russia

Leading shipping journal Lloyd’s List has reported that seven loaded Suezmax vessels that are fully compliant with the $60 per barrel price cap and its requirements have sailed from Russian waters.  According to the journal, checks have revealed that all seven vessels have secured insurance with International Group P&I clubs, which requires proof of compliance with the G7 cap of $60 per barrel before marine insurance can be provided. Three weeks ago, in a surprise twist to the Russian oil saga, Turkey announced that it will start…