The European Union plans stronger measures against Russia's shadow fleet of oil tankers evading sanctions. Eu foreign policy chief Kaja Kallas calls for formalized cooperation with the flag states of these vessels. This aims to further curb Russia's oil trade revenues.
Since spring 2022, when sanctions were imposed on Russia due to the invasion of Ukraine, Moscow has built a shadow fleet to circumvent them. Estimates suggest every fifth liter of crude oil is transported by Russian vessels sailing under false flags. Varying estimates put the number of such oil tankers at 600 to 1400, concealing their origins through registration in other states. Many are old, poorly maintained, and originate from the European market, such as Greece.
In mid-2022, the G7 and partners introduced the Oil Price Cap to limit Russian oil revenues, while the EU banned imports. Russia responded with tankers under flags of states like the Cayman Islands, Liberia, or the United Arab Emirates, which do not adhere to the cap.
The European External Action Service proposes bilateral agreements with these flag states, as shown in a document obtained by Reuters. Eu member states are already acting more robustly: Germany against the 'Eventin', France against the 'Boracay', Estonia against the 'Kiwala', and Finland against the 'Eagle S'. The EU has sanctioned over 400 ships and facilities. Foreign and energy ministers will discuss this on Monday in Luxembourg; the G7 agreed on joint efforts in early October. Some vessels have also been suspected of involvement in espionage and sabotage.