It all happened in front of our eyes — Clandestine “oil highway” caught moving up to $90 bn over the seas

A new investigation has uncovered a clandestine “oil highway”, and it has been happening right in front of our eyes.

The oil industry has become the main supplier of energy for our world. Powering our dreams and hopes for the future. However, as recent developments have proven, oil can be far “darker” than we have ever known or thought possible.

Secrets are meant to be uncovered, but this one may have far-reaching implications.

The oil sector is heading down a slippery slope

The iconic “black gold” that has powered the world has seen its relevance in the global energy industry declining lately.

The expanding renewable energy sector has drastically influenced the oil market, as the vast majority of nations aim to leave fossil fuel-based energy production behind in favor of the clean energy potential of solar, wind, and even hydropower.

Sanctions on oil production have also influenced the sale of the historically powerful energy resource.

Recent developments in Venezuela have played a part as well. The world is awash in oil, and as we know, demand impacts supply. But the world has reached a point where oil production has cost us dearly.

And not in the way we may have expected.

Oil’s well that ends well

The overarching realization that our reliance on oil as the go-to energy resource needs to come to an end has not been lost on the world.

Drilling for oil deposits is very expensive indeed, with most energy projects requiring millions, and sometimes even billions of dollars to bring the black gold to the surface. As the need for more power increases, some have opted to transition away from large-scale oil production.

Discovering an oil deposit can transform fortunes overnight. Even in the most remote nations of the world.

The renewable energy sector has also played a part in the recent downfall of the oil sector. As the technology around solar power advances, the clean energy market is expanding to meet the needs of the global energy transition.

Experts have even gone so far as to search the deepest regions of the oceans to find the next energy resource that could power the world.

As the energy market evolves, a recent investigation has lifted the veil on a clandestine “oil highway.”

One nation’s fuel-ish behavior has been unearthed

A recent investigation by the Financial Times has found that nearly fifty separate companies have been working in the shadows to move Russian crude oil.

The report says that the companies formed part of a clandestine operation to sell upwards of $90 billion of sanctioned Russian oil. And that profit estimation is conservative at best, as the investigation noted that the actual amount is likely much, much higher.

While some states in the union search for the next energy resource after oil, the Times has lifted the veil on the oil highway. The findings came as the companies involved all shared one email server.

A blunder of truly incredible proportions.

The US slapped a wide range of sanctions on Russian oil companies towards the end of last year. However, the Financial Times has noted that due to the lucrative oil business, analysts expected some sort of smuggling network for Russian oil to emerge.

As the true scale of the smuggling operation is unclear, the governments of the world will need to come together to contemplate the next move.

The Kremlin must be shaking in its oily boots, but the evidence suggests that the Russian energy companies involved will continue in their efforts to move illegal Russian crude, despite the investigation.

How will the findings affect Russia’s already declining oil sales around the world?

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