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Russian LNG Tankers Flee Mediterranean After Attack

Bloomberg Markets •
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US-sanctioned Russian LNG vessels are redirecting away from the Mediterranean Sea following an alleged attack by Ukrainian drone boats. At least three tankers, representing nearly a fifth of the total fleet, have diverted or avoided the Mediterranean according to ship-tracking data, with a fourth vessel halting after entering from the Suez Canal.

The rerouting forces sanctioned Russian projects to lengthen their journeys to Chinese buyers by circumnavigating Africa. This complication comes as Moscow already struggles with restrictions from US and European nations. The extended routes will reduce access to foreign funds needed to finance the war in Ukraine.

Arctic Metagaz, known for carrying sanctioned Russian LNG, was targeted near Malta earlier this month according to Moscow. The vessel's crew was safely evacuated, but satellite imagery shows it sustained heavy damage. At least 16 shadow fleet vessels currently transport restricted Russian LNG, according to Bloomberg analysis.