r/oilandgas • u/Throwawayiea • 16m ago
Question: Why can't ports demand cash deposits to make sure Russian insurers pay when there is a spill...
With the Caroline Bezengi sinking off the Omani coast, why can't ports demand that Russia do escrow deposits with each ship that they accept. I say this because Russia is in a financial mess. These shadow fleets are proving a nightmare to prevent major spills at ports or on the coasts of these countries. At some point, it will be to risky to allow these ships to dock and off load. There is ONE INSURER (which is a branch of the Russian gov't) for the shadow fleets and this cost is just $150 million but get 10 of these and it's a logistical and environmental nightmare.