Sanctions Strand Over 50 Russian Oil Tankers

More than 50 oil tankers that have previously transported Russian oil are now sitting empty and idle in the Baltic Sea, the Black Sea, offshore Russia's Far East, China, South Korea, and near the Suez Canal. All these tankers have been targeted by U.S., UK, and EU sanctions in recent months as the West ramped up efforts to choke off Russia's oil revenues. Very few of them, three to be precise, have loaded oil cargoes since they were designated by one or more Western authorities, according to tanker-tracking data compiled by Bloomberg. The…