After December 5, the cost of transporting Russian oil may jump 1.5 times ship owners want higher fees amid sanctions risks, writes Bloomberg.</p>
<p> Transport companies willing to agree to transport Russian oil from the Baltic Sea to India are discussing a freight price in the region of $15 million per tanker after December 5 to compared to $9-11.5 million previously, the agency reports, citing information from ship brokers.</p>
<p> The increase in prices reflects the problems faced by Russian oil suppliers in anticipation of sanctions from the EU, which will fall under including Greek transport companies. The reduction in the number of available vessels and the need for a serious increase in the length of routes are also having an impact, as supplies are redirected from Europe to Asia and the Middle East.</p>
<p> Also, participants in the global shipping market are waiting for details of the proposed G7 cap on Russian oil prices. The introduction of such a ceiling can exempt oil cargoes from European sanctions if they are purchased at a price below the ceiling. Russia, in turn, has previously stated that it will not sell oil and gas to countries that join the price cap agreement.</p>
<p> delivery of cargo from the Baltic to India. Also, the agency does not have confirmed information about the actual conclusion of contracts for transportation at such rates.</p>

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