MOSCOW, November 15Denmark is unlikely to have the ability to inspect all tankers with Russian oil passing through the country’s waters, however, world oil prices could “cheer up” from such a measure, and Russia in this regard should focus on the development of alternative routes, such as the Northern Sea Route, the deputy general director said Institute of National Energy, expert of the analytical center “InfoTEK” Alexander Frolov.
Earlier on Wednesday, the Financial Times, citing three sources familiar with the Brussels talks, reported that Denmark, under new EU plans, will inspect and likely block Russian oil tankers passing through its waters.
“If you try to estimate the volumes of oil that may be affected by enhanced control, it is about 60 million tons per year. In principle, this will not have a physical impact on the market. With the exception of possible delays of individual cargoes, it is unlikely that Denmark has the necessary inspection capacity “of all ships carrying Russian oil passing through its waters. But such a measure could invigorate the market and lead to a speculative rise in prices,” Frolov said.
He added that this situation once again reminds that Russia needs year-round access to the Northern Sea Route.
In general, according to Frolov, in the situation with Denmark, the question is not even the origin of the oil itself, but that this oil can be transported in violation of the price ceiling.
“For now we are not dealing with a decision made, but with regular news with reference to knowledgeable people. However, I am inclined to believe that such measures will be taken, since new sanctions need to be introduced, they should sound moderately loud , but at the same time they should not scare the market. Therefore, new sanctions will most likely contain mainly measures to strengthen control within the framework of old sanctions,” he concluded.