- Twelve Northwest European nations are inspecting Russian oil tankers to gather intelligence for potential future sanctions.
- Russia uses an aging tanker fleet to bypass Western sanctions, with European authorities monitoring key chokepoints.
- A future US administration may impose sanctions on EU companies for violations linked to Iran, Venezuela, and China, with less hesitation than before.
Northwest European nations have introduced an insurance inspection scheme to track Russian oil tankers suspected of evading sanctions. While ship seizures remain unlikely due to international maritime law, the initiative aims to gather intelligence. Meanwhile, concerns rise over potential US sanctions on EU firms for non-compliance with global trade restrictions, reports SP Global.
EU Nations Tighten Oversight on Russian Oil Tankers
Twelve Northwest European nations have implemented an insurance inspection scheme targeting Russian tankers transporting oil.
These checks, focused on verifying insurance coverage, aim to enhance maritime safety and collect intelligence for potential future sanctions.
However, under the 1982 United Nations Convention on the Law of the Sea, authorities lack the power to seize or block these ships.
Russia’s Shadow Fleet & Sanctions Evasion
Since 2022, Russia has assembled a fleet of aging tankers operated by lesser-known firms to bypass Western restrictions, including the G7 price cap.
Many of these vessels operate without Western insurance, raising environmental and safety concerns.
Authorities monitor major transit routes such as the English Channel, the Great Belt, and the Gulf of Finland, where Russian oil exports remain high.
Potential US Sanctions on EU Companies
Sanctions experts suggest that the US may adopt a stricter stance on penalizing EU firms for violating global sanctions under a different administration.
Unlike the current approach, which largely avoids sanctioning Western allies, a future US government might target companies linked to Iran, Venezuela, and China.
An official noted, “If past performance is any indicator of what’s going to come next … you might expect there to be less reluctance to upset the allies.”
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Source: SP Global
