Russia still relies on Europe to ship its oil

29 Sep 2023 CW Team

Russia remains dependent on European shipping to transport its oil, even as its oil supplies exceed the price caps set by the Group of Seven (G7), as reported by researchers. Approximately two-thirds of Russian crude oil and petroleum products are being transported by vessels that are insured or owned by nations adhering to the price caps imposed by the G7 and its allied countries, according to findings from the Helsinki-based Centre for Research on Energy and Clean Air (CREA).

This reliance on European shipping highlights Moscow's continued heavy usage of the European shipping industry for its oil transportation needs. The G7 price cap was devised with the aim of ensuring a sufficient flow of oil to the global market while restricting revenue to the Kremlin. However, in addition to the use of Western vessels, Russia has also assembled what is colloquially known as a "shadow fleet" of tankers operating outside the jurisdictions of countries imposing sanctions.

These shadow tankers tend to focus on shorter-distance oil transport routes, where the same tanker capacity can efficiently move more supply, as noted by CREA. This innovative approach allows Russia to navigate the challenges posed by international sanctions while maintaining its oil export activities.

The continued reliance on European shipping and the strategic use of shadow tankers underscore Russia's efforts to adapt to evolving geopolitical circumstances and sanctions, ensuring the continued flow of its vital oil exports to global markets.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..