Russia’s largest shipper is rushing to sell a third of its fleet to repay western loans before sanctions hit on May 15th.

Analyst Comment: It is interesting to see that beyond the bluster Russia and western countries are playing ball. The EU is buying Russian resources in rubles and Russian firms are repaying debt owed to western firms. There seems to be a huge incentive to maintain economic ties with each other and the relationship is not as contentious or fatalist as many have claimed.