Windward published its January 2023 insights from the Russia Risk Report, indicating how the West is still avoiding doing business with Russia.
Windward’s Russia Risk Insights is a monthly update on risk at sea, offering an overview of any emerging behavioral trends in developing hubs prone to illicit activity in the context of the extended sanctions on Russia.
The new insights show how the West is still avoiding doing business with Russia.
China, India and South Korea have been picking up the slack, as the volume of crude oil shipments have steadily increased since the war began and the price cap regulations were implemented
Oil products tankers port calls in Russia and next destination
With the third and final phase of the current price cap regulation in effect and product tankers joining the lineup of sanctioned vessels, the number of risky vessels recognized by Windward’s Russia risk model has significantly increased.
Namely, the third phase included the addition of Oil Products tankers.
This change added +900 risky vessels that were recognized by Windward’s Russia risk model
Windward explains.
Deceptive shipping practices
According to Windward, dark activities by tankers in the South Atlantic peaked in December 2022, while during January 2023 this numberhas dropped almost to the same level as June 2022.
More specifically, while in December 2022 dark activities by tankers reached an all time high of 71, in January it dropped to 38.
In Mid Atlantic & West Africa, dark activities by tankers peaked in the summer of 2022 with 31 in June and 35 in July, and since then they have reduced significantly.
More specifically, after August which reported 8 cases, since then only November had 3 cases, and September 1. October, December and January reported no case of dark activities.
