Sovcomflot says Western tanker sanctions make the oil trade less safe

Russia's state tanker operator Sovcomflot has argued that Western sanctions on its vessels are making the oil trade less safe, Bloomberg reports via gCaptain. The company said the restrictions lead to a decline in maritime safety standards because well-maintained ships are being forced out of the trade, and that this increases environmental risks for the oceans. Sovcomflot sought to distinguish itself from shadow fleet tankers, saying it adheres to the highest safety standards. The report notes that Western firms may carry Russian crude only if it is sold at or below $60 a barrel, and cites an Allianz estimate that the shadow fleet has been involved in at least 50 incidents.

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