EU Cracks Down on Russia’s Shadow Fleet, Imposes Sanctions on 43 Vessels and Key Individuals
The European Union has imposed additional sanctions on Russia, particularly on its so-called shadow fleet, following the approval of the bloc’s ambassadors. The new measures include sanctions against nine individuals and entities involved in facilitating Russia’s shadow fleet, as well as a blacklist of 43 vessels linked to the shadow fleet, set to be formally approved on Friday.
The sanctions target key individuals and entities identified as destabilizing the EU, including GRU officers, members of the Valdai Club, and citizens from the US, France, and Switzerland working on behalf of Russia. This move aims to significantly reduce the oil revenue that continues to fuel Russia’s war effort in Ukraine.
G7 Nations and EU Discuss Sweeping Ban on Maritime Services
Previously, the Group of Seven (G7) nations and the European Union (EU) are in discussions to replace the existing price cap on Russian oil exports with a sweeping ban on maritime services. Six sources with direct knowledge of the talks told Reuters that the move aims to significantly reduce the oil revenue that continues to fuel Russia’s war effort in Ukraine.
The proposed ban would aim to halt the trade by restricting access to those maritime services, which are largely from EU countries such as Greece, Cyprus, and Malta. This would effectively cut off Western-owned tankers and services that currently facilitate a significant portion of Russian oil exports to markets like India and China.
Russia’s Shadow Fleet: A Key Component in Fueling War Effort
Russia currently relies on Western-owned tankers and services to export a significant portion of its oil to markets like India and China. The proposed ban would aim to halt this trade by restricting access to those maritime services, effectively cutting off the revenue that fuels Russia’s war effort in Ukraine.
The shadow fleet has grown significantly since 2022, with estimates suggesting it now comprises over 600 vessels. This growth has allowed Russia to circumvent international sanctions and continue to export oil, generating significant revenue for its war efforts.
Original Article: EU Cracks Down on Russia’s Shadow Fleet, Imposes Sanctions on 43 Vessels and Key Individuals — UNITED24 Media — United24Media