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UK and EU to Target Russia's Shadow Fleet Amid 1,800% Rise in Indian Oil Imports

Jul 15, 2024, 10:04 AM

India has significantly increased its imports of Russian oil by 1,800% since before the war in Ukraine, much of which is resold. China has also increased its imports by 43%, primarily for domestic use. This oil is often shipped using Russia's shadow fleet, circumventing international sanctions. Western analysts note that sanctions have grounded 53 Russian tankers, indicating some effectiveness. In response, the UK and a group of European nations plan to launch a 'call to action' to target Russia's shadow fleet. This initiative will involve new sanctions, information sharing, and a coordinated response, with the maritime industry being urged to comply.