The conflict in Ukraine continues to affect the tanker market, with a strengthening of rates across all major tanker segments – with particularly strong rates in the Baltics, the Black Sea and the Mediterranean. That said, it’s mostly these routes that prove to be sustainable, so do not be surprised if rates cools down gradually. The US has decided to sanction Russian oil. US daily oil imports before sanctions totaled 400,000 barrels per day, divided into 310,000 barrels of dirty fuels and 90,000 barrels of crude oil. This is somewhat lower than European imports from Russia. With more sanctions and the new “self sanctioning” that (almost) all Western players in the market maintain today, Europe will pick up its oil from other continents such as West Africa, America and the Middle East. The longer cargo distances will create a ton/mile demand effect, and will be able to pull the market up in the longer run.