Economy

Putin caught executing enormous ‘semi-dark’ ship-to-ship oil transfer in Gulf of Oman

Russia has turned to its so-called ‘shadow fleet’ to carry out a roughly $29.3 million ‘semi-dark’ ship-to-ship oil transfer in the Gulf of Oman, deliberately sidestepping Western sanctions, according to reports.

Maritime intelligence firm Windward AI reported on March 8 that the Russian-flagged tanker M/V TRUST, a vessel already blacklisted by the U.S., European Union and United Kingdom, carried out a ‘high-probability’ covert crude transfer in Omani territorial waters.

Based on an estimated price of about $90 per barrel on March 10, the cargo involved in the transfer was valued at roughly $29.3 million.

‘The timing of the operation coincided with heightened military escalation in the Gulf following Operation Epic Fury, suggesting the vessel exploited regional instability to conduct the transfer under reduced scrutiny,’ Windward said.

The tanker had previously loaded approximately 325,000 barrels of Russian crude oil at the Russian port of Ust-Luga, Windward said.

Windward described the operation as a ‘semi-dark’ activity, meaning one of the vessels transmitted its automatic identification system (AIS) signal while the other did not.

According to the firm, the M/V TRUST had anchored and switched off its AIS transponder while holding what it called a ‘prolonged stationary meeting’ with another tanker, likely producing an anonymous vessel to transfer cargo process.

A fully ‘dark’ meeting, Windward said, typically involves two vessels not transmitting, but, in this case, only one ship appeared to be broadcasting, creating partial visibility that still complicates tracking efforts.

Such tactics are part of a broader strategy by Moscow to continue exporting crude despite sweeping Western sanctions imposed after Russia’s invasion of Ukraine.

The semi-dark oil transfer comes amid heightened volatility in global energy markets tied to the escalating conflict in the Middle East and limited traffic in the Strait of Hormuz given the joint U.S.-Israeli military action against Iran.

Oil topped $100 a barrel March 9 as traders priced in the risk that the conflict was disrupting flows through the Strait, which carries about a fifth of global supply, CNBC reported.

Russian President Vladimir Putin said on March 9 that Russia, the world’s second-largest oil exporter and holder of the largest natural gas reserves, stands ready to resume long-term energy cooperation with European customers if they choose to return, Reuters reported.

Meanwhile, Secretary of War Pete Hegseth said Tuesday that Russia ‘should not be involved’ in the escalating conflict between the U.S., Israel and Iran.

His comments followed reports suggesting Moscow may be providing intelligence support to Tehran, though the Kremlin has not publicly confirmed the claims.

On Russia’s ship-to-ship semi-dark cargo transfer amid the ongoing conflict, Windward highlighted ‘operational blind spots that enable illicit maritime activity to proceed largely uninterrupted.’

This post appeared first on FOX NEWS

You May Also Like

Investing

Rare earth elements (REEs) are crucial for technologies like smartphone cameras and defense systems. A select few from the group of 17 are also...

Editor's Pick

Former independent presidential candidate Robert F. Kennedy Jr. is back in the headlines — not for suspending his campaign last week and endorsing Republican...

Investing

In recent years, the global oil market has been impacted significantly by COVID-19 disruptions, price wars between oil-producing nations, Russia’s war in Ukraine and...

Editor's Pick

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

Disclaimer: Pertxpert.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 pertxpert.com