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European Countries Implement Insurance Checks on Russian Oil Tankers to Curb Environmental Risks

Dec 16, 2024, 06:01 PM

A coalition of European countries, including Denmark, Estonia, Finland, Norway, Poland, Sweden, and the United Kingdom, has agreed to implement stricter insurance checks on tankers carrying Russian oil through their waters. This initiative, announced at the JEF Leaders’ Summit in Tallinn, aims to address environmental risks posed by Russia's 'dark fleet' of ageing vessels, which are often uninsured or underinsured against oil spills and other high-cost claims. The checks will be carried out in key maritime passages such as the English Channel, the Denmark Strait, the Gulf of Finland, and the waters between Sweden and Denmark. The move is part of a broader effort to enforce sanctions and disrupt Russia's shadow fleet, which has been used to evade Western sanctions on Russian oil exports. The EU has already added 52 shadow vessels to its sanctions list with the 15th sanctions package, reflecting a significant crackdown on these operations. According to the Centre for Research on Energy and Clean Air (CREA), the sanctions have led to an 80% decrease in oil transportations by the fleet since the vessels were added to the lists. The group of 12 coastal states published a declaration on the joint measures.