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FT Investigation Reveals Russia's 'Shadow Fleet' Evading Sanctions with Over 85 Reflagged Ships

Oct 10, 2024, 04:32 AM

An investigation has revealed that Russia is evading Western sanctions on oil exports by utilizing a 'shadow fleet' of tankers. According to data from Windward, since July 2023, over 85 Russian-affiliated ships have changed their registrations to Gabon. The Financial Times conducted a five-month investigation into the role of a British accountant, a London-based broker, and a Dubai-based British shipping magnate in acquiring at least 25 tankers for Lukoil's Eiger Shipping. China and India are reportedly continuing to import record volumes of Russian oil shipped on 'dark' or designated tankers, ignoring EU and UK sanctions. The investigation sheds light on how Russia's shadow fleet operates.