Nearly 70 percent of Russia's oil exports evade restrictions through shadow tankers, highlighting the failure of Western sanctions aimed at crippling its economy since the war in Ukraine began.
The report indicates that the lax enforcement of the price cap has allowed Russia to not only finance its military operations but also to undermine global energy market stability.
Officials from the U.S. and Europe face challenges in balancing the goal to hurt Russia's finances while ensuring sufficient oil supply in the world market to avoid price spikes.
The use of poorly maintained shadow tankers by Russia poses environmental risks, as incidents involving these vessels could lead to significant maritime disasters with costly clean-up operations.
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