Sanctioned oil tanker “Latur” moves without permit, insurance, inspection in Russian Arctic

Image credit - https://www.vesselfinder.com/

Sanctioned oil tanker Latur navigates in Russian Northern Sea route carrying Russian crude oil, while the insurance coverage and inspection is yet to be completed.

Understanding the sanctions, its reason and controversy for vessel Latur

•        Latur, a Suez Max class tanker

•        Capacity – 1 million barrels of oil

•        Overage of the vessel – She is 19-year-old and above an average lifespan of crude oil tanker

•        Safety Inspection – Is pending as per records

•        Reason for sanctions – carrying Russian crude oil against the G7 price cap

•        Safety risk – The vessel carries the risk of drowning / oil spread / environmental damage / marine life damage etc.

Details of the vessel

•        Name – Mercury (Later Latur)

•        Flag - Comoros

•        IMO number – 9321706

•        Vessel Type - Crude Oil Tanker

Benefits of Northern Sea route for Russia

•        It’s a strategic shipping line connecting Russia to Asia

•        It is highly beneficial in terms of transit as it takes less time than the Suez Canal

It’s a risky route due to harsh winters and extreme cold weather and the vessels move alongside with ice-breaker for safety.

There has been a lot of news of blacklisting of Russian oil tanker on basis of carrying crude oil against the G7 set price and reusing them again with different name as a part of shadow fleet, this is a type of economic blockade of Russia after 24th Feb 2022 when Russia-Ukraine war started.

The is also a virtual economic war that is going on – the West is trying to blacklist this vessel and stop its movement to stop exports of Russian crude oil, while Russia is pushing hard for crude exports to meet its needed economic growth.

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