The price cap on Russian oil is becoming increasingly unenforceable, said the International Group of P&I Clubs, or so-called Mutual Insurance Clubs, according to reports on May 3. About 800 oil tankers, which were previously managed by member organisations of the International Group of P&I Clubs, have moved to the so-called shadow fleet, according to a written submission by the club in response to the British government’s inquiry about the effectiveness of sanctions against Russia. Additionally, insurers are unable to verify whether traders are adhering to the price limits. This policy seems i…