The fourth episode of the KSE Talks podcast is available! Our special guests are Chris Cook, Senior Reporter at the Financial Times, and David Sheppard, Energy Editor at the FT.

Together with Benjamin Hilgenstock, Senior Economist at KSE Institute, Chris and David discussed price cap violations, the shadow fleet, and other updates in the energy sanctions. They also talked about two pressing issues leading to price cap violations: attestation fraud and inflated costs, which boost Russia’s revenues.

KSE Institute’s latest Chartbook reveals that Russian oil export earnings reached $18.3 billion in October. New research also shows that more than 99% of Russia’s seaborne crude oil exports are being sold above the EU and G7 price cap of $60 per barrel. 

On the podcast, we discussed how Russia bypasses price caps by giving insurers wrong oil prices or adjusting shipping costs. How do they do it, and who gains? Why do India and China still buy oil despite higher costs? Why aren’t the EU and the USA completely blocking Russian oil imports? The answers to all these questions will determine whether the West will be able to deprive Russia of oil revenues. 

Next, experts shared insights on attestation fraud — like registering tankers abroad and using anonymous ship managers. Why is this anonymity risky, and what environmental problems does it bring? If an oil spill costs over €2.5 billion to clean up, who’s paying for it, and can they cover the costs? 

Finally, we shed light on what to do next to ensure the effectiveness of the price cap and reduce Russia’s oil revenues.

The fourth episode of KSE Talks is available on podcasting platforms here: 

Apple Podcasts: https://t.ly/IcLUL  

Spotify: https://t.ly/I0CB0 

Amazon Music: https://t.ly/p2cCY