Diesel Purchaser

UPPG

We have seen, in the last six to nine months in particular, a significant amount of funds made available to companies in Dubai that are either owned by Russians or other people.

Diesel Transport

Shadow Fleet

There are a lot of new players, very nontransparent players, a mix of Russian interests, partly located in the Middle East, and some other trading bodies in the Middle East, and also Indian and Chinese companies.

Grain Shipping

Shadow Fleet

Maybe the politicians that set up the current sanctions were aware this would happen and it was an acceptable collateral damage … but there is a lot of murky stuff going on.

LNG Purchaser

UPPG

We see no indication that Russia will have to cut back its exports of LNG/LPG or refined products anytime soon.