Expanding Sanctions on Russia’s Shadow Fleet
The European Union has introduced its most comprehensive set of sanctions yet in response to Russia’s ongoing aggression against Ukraine. The 17th package specifically targets Russia’s clandestine network of oil tankers, known as the “shadow fleet,” aiming to severely restrict Russia’s oil revenues, a critical source of funding for its military operations.
Central to these new measures is the unprecedented expansion of sanctions on vessels associated with Russia’s shadow fleet. Today’s decision doubles the number of vessels facing EU port bans and prohibitions on critical maritime services, now totaling 342 ships. These vessels, often flagged in third countries, have been identified for their involvement in irregular and high-risk shipping practices designed to bypass earlier sanctions, thus sustaining Russia’s wartime economy.
Targeting the Shadow Fleet Ecosystem
Additionally, the EU is imposing stringent sanctions on entities integral to the shadow fleet ecosystem, including shipping companies and insurers based in the United Arab Emirates, Türkiye, and Hong Kong. This targeted approach aims not only to disrupt immediate logistical operations but also to dismantle the broader networks enabling Russia’s…