European nations unite to combat Russia’s sanction-evading oil fleet – Bloomberg

The UK and several European nations are set to launch a coordinated effort to target Russia's 'shadow fleet' of oil tankers, aiming to tighten sanctions enforcement.

Jul 16, 2024 - 08:02

European nations unite to combat Russia’s sanction-evading oil fleet – Bloomberg

Russia's Oil Fleet

The United Kingdom is set to launch a “call to action” this week alongside several European nations to address the issue of Russia’s “shadow fleet” of oil tankers, Bloomberg reports. This fleet has been instrumental in Russia’s efforts to circumvent international sanctions.

According to Bloomberg’s report, several governments will endorse a plan during the European Political Community meeting in Britain on 18 July. Prime Minister Keir Starmer will host the meeting.

The draft statement outlines the intention to “share information about the Russian fleet to coordinate our responses to the risks posed by its ships and facilitators and to work with the private sector and other maritime stakeholders to address the threat.”

The document, which may be subject to changes before it’s signed later this week, states: “Russia’s ‘shadow fleet’ poses a threat to our nations and others who depend on the world’s seas and oceans. Many ships in this ‘shadow fleet’ are uninsured and poorly maintained. Many engage in activities which violate basic safety and environmental standards and regulations.”

One anonymous source familiar with the matter suggested that this response could result in the sanctioning of more Russian dark fleet vessels.

The move is part of ongoing efforts to limit Russia’s ability to profit from its oil resources. G7 sanctions have already aimed to isolate Russia in conventional oil transportation markets by restricting access to mainstream tankers and service providers unless the oil being transported is below a G7-defined price cap.

These measures have pushed Moscow to rely on older vessels operating outside industry norms. Some tankers have reportedly falsified their locations in digital vessel-tracking systems to conceal their activities.

The International Maritime Organization passed a resolution in December urging member states and stakeholders to take action against illegal operations by the “dark fleet” or “shadow fleet.” The European Union and the UK have cited this resolution in recent sanctions targeting Russian tankers.

The draft statement also calls on flag and port states to enforce safety rules related to ship-to-ship transfer operations and insurance certificate requirements. It urges maritime stakeholders to “adhere to their relevant obligations, and support the prevention, detection and reporting of ‘shadow fleet’ activities.”

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