EU Targets Russia's 1,400-Vessel Shadow Fleet Amid Environmental Risks

Sep 18, 2024, 08:36 AM

The European Union is intensifying its efforts to address the issue of Russia's 'shadow fleet' of aging and poorly maintained tankers, which are evading sanctions and posing significant environmental risks. The EU Sanctions Chief has emphasized the dual focus of the strategy: tackling the shadow fleet and harmonizing sanctions across the 27 EU member states. With approximately 1,400 vessels in use, the risks of oil spills are high, prompting calls for urgent global action. The shadow fleet often operates under deceptive practices. The EU is also targeting financial institutions that support these operations and the flow of products produced in Southeast Asia by Western subsidiaries to Russia. David O'Sullivan, an EU envoy, stated that while sanctions are not a 'magic bullet,' the goal is to make it harder, slower, and more expensive for Russia to sustain its war efforts.