EU Enforces Largest-Ever Sanctions on Russia’s Shadow Fleet

By
Mfame Editor
-
15

  • Crackdown on Deceptive Oil Tankers Intensifies.
  • Over 100 Entities and Individuals Added to Sanctions List.
  • Maritime and Energy Sectors Under Fresh EU Scrutiny.

The European Union has just launched its most comprehensive sanctions package to date, aimed squarely at Russia’s so-called shadow fleet of oil tankers. This initiative is designed to clamp down on Moscow’s ability to sidestep global restrictions and finance its ongoing war in Ukraine, reports Marine Insight.

Targeting the Shadow Fleet

So, what exactly is the shadow fleet? It refers to a collection of older oil tankers that Russia uses to transport crude oil discreetly, often flying under the radar of Western oversight. These ships frequently switch off their transponders, fiddle with their location data, and transfer oil between vessels in the middle of the ocean to obscure its origins.

Key Sanctions in the New Package

This latest round of sanctions is part of the EU’s 14th package against Russia since 2022 and includes:

  1. Prohibiting EU operators from dealing with tankers that assist Russia in dodging the G7 oil price cap.
  2. Targeting over 100 new entities and individuals connected to the war effort.
  3. Imposing restrictions on dual-use goods, advanced technology, and energy equipment.

Focus on Maritime and Energy Sectors

A significant portion of these sanctions is focused on maritime activities, aiming to disrupt the logistics behind Russia’s oil exports. The EU hopes to undermine the financing of the war in Ukraine by hitting Moscow’s energy revenue hard.

Clapdown on Deceptive Shipping Practices

The EU is also ramping up its efforts to tackle deceptive shipping practices, such as:

  1. Disabling ship-tracking systems.
  2. Conducting ship-to-ship oil transfers.
  3. Providing misleading cargo documentation.

Companies caught facilitating these activities could now face serious penalties.

Global Coordination and Enforcement

This initiative is being rolled out in collaboration with G7 allies. Officials are emphasising that improved monitoring and stricter compliance measures are in place to enforce these sanctions and prevent any further evasion.

Strategic Shift by the EU

With these sanctions, the EU is doing more than just punishing Russia; it’s sending a clear message to global shipping and insurance companies. Engaging in backdoor oil trades with Moscow could now lead to significant repercussions.

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Source: Marine Insight