Dodging the cap has increased the price Russia gets for its oil on global markets, sanctions experts say. The discount for Russian oil compared to international benchmark Brent crude has shrunk from as much as $35 per barrel to less than $10 per barrel. Russia has seen oil income hold up steadily and even rise.

The name is brilliant: ‘vintage tonnage’. It evokes 17th-century pirate vessels flying the skull-and-crossbones, 18th-century ships-of-the-line bristling with cannons, or even 19th-century clipper ships in full sail bringing tea to England and America.

President Joe Biden's administration says it's expanding sanctions against Russia's critically important energy sector over its war in Ukraine.

It evokes 17th-century pirate vessels flying the skull-and-crossbones, 18th century ships-of-the-line bristling with cannons, or even 19th-century clipper ships in full sail bringing tea to England and America.

The “vintage tonnage” is the “shadow fleet” of second-hand oil tankers that were spared from the ship-breaking yards in 2022 because Russia lost its export market in Europe when it invaded Ukraine. There were plenty of potential customers for cut-price Russian oil in India and China, but no pipelines to get it there. It had to go by sea.

The name is brilliant: "vintage tonnage". It evokes 17th-century pirate vessels flying the skull-and-crossbones, 18th-century ships-of-the-line bristling with cannons, or even 19th-century clipper ships in full sail bringing tea to England and America.

The Cook Islands-registered oil tanker Eagle S is anchored near the Kilpilahti port in Porvoo on the Gulf of Finland, Dec. 30, 2024.

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Head of separatist region in Moscow, Russian officials make no comment Moldovan president says Moscow decides for rebel region Gas giant Gazprom says Moldova must pay arrears CHISINAU, Jan 14 ...

Another Indian national from Kerala, who was similarly recruited, has been injured and is receiving treatment in a hospital in Moscow," said the ministry of external affairs in a statement ...

An officer from the FSB counterintelligence department, Vladimir Feshchenko, was shot and killed in a building belonging to the Ministry of Defense in central Moscow – his body discovered early Tuesday morning, Jan. 14, Russian media reported.