G7 Leaders Pledge to Combat Russian Shadow Fleet; Denmark Targets Baltic Sea Oil Tankers

Jun 17, 2024, 07:58 AM

The G7 has pledged to combat Russia's shadow fleet, which is used to evade oil export sanctions. Research from the Kyiv School of Economics (KSE) Institute indicates that Russia has tripled its shadow fleet from 143 vessels in 2023 to 435 in 2024, raising concerns about oil spills along EU shipping routes. G7 leaders, meeting in Italy, vowed to tighten enforcement of the price cap on Russia's oil exports and sanction future energy projects. Denmark, along with other countries, is assessing actions targeting the shadow fleet in the Baltic Sea. Danish Foreign Minister Lars Løkke Rasmussen stated that Denmark is considering ways to limit the passage of old tankers carrying Russian oil through the Baltic Sea, which could have significant implications as 33% of Russian oil leaves through the Danish straits.