About 17% Of World's Tankers Belong To Russia's Shadow Fleet NYT

(MENAFN- UkrinForm) This was reported by The New York Times , citing data from research company S&P Global Market Intelligence, Ukrinform writes.

According to estimates, at the beginning of this year Russia's shadow fleet numbered 940 vessels - a 45% increase compared to last year.

Following Russia's full-scale invasion of Ukraine, the West imposed sanctions aimed at reducing the Kremlin's revenues from energy exports. However, Russia has circumvented these restrictions by assembling a massive fleet of old vessels with opaque ownership structures that transport oil to China, India, and other distant markets.

To evade Western sanctions, these ships rely on“questionable insurance” or operate without insurance altogether. They also sail under the flags of third countries and provide false location data to conceal where their cargo is loaded.

The research indicates that the average age of vessels in Russia's shadow fleet exceeds 20 years, compared to 13 years in the legitimate global tanker fleet. Because of this, Russia's aging tankers pose an environmental threat, the report notes.

In addition, these ships are suspected of carrying out underwater sabotage operations, including damaging pipelines and cables.

Read also: Australia lowers Russian oil price cap, imposes sanctions on Russia's“ shadow fleet”

As reported by Ukrinform, on Friday, September 19, the European Commission approved its new 19th package of sanctions against the Russian Federation.

European Commission President Ursula von der Leyen announced that, to strengthen enforcement, the EU is introducing sanctions against another 118 vessels from Russia's“shadow fleet.” In total, more than 560 vessels are now under EU sanctions.

Photo: Stefan Sauer/dpa/picture alliance

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