The vast majority of companies that own the ships that transport oil around the world, and the companies that provide insurance for them, are based in G7 or EU countries. In reality, it is these companies who must abide by the “price cap,” which the G7 and the EU hope will not only directly affect the price that third parties pay for Russian oil, but also give them leverage to negotiate cheaper prices with Moscow for oil shipped on non-G7/EU transport vessels. Potentially, Russia could turn to a “shadow fleet” of tankers, either acquired or owned by or flagged under countries like Iran and Venezuela, to transport its crude. However, many importing countries are unlikely to accept oil shipped on these “dark tankers” under Russian (or perhaps, Chinese) insurance because of the additional risks it would represent.