Ukraine Sanctions Nearly 700 Vessels Tied to Russia’s ‘Shadow Fleet’
President Volodymyr Zelensky announced on December 13 that Ukraine‘s sanctions against nearly 700 vessels linked to Russia‘s shadow fleet had entered into force. The sanctions aim to limit Russia’s ability to fund its war in Ukraine through the export of oil and other energy resources.
The sanctioned vessels account for a large share of Russia‘s fleet used to transport oil and other energy resources, providing funding that helps sustain the war. Zelensky noted that these vessels operate under the flags of more than 50 jurisdictions. The sanctions are part of a broader effort by Ukraine and its international partners to pressure Russia and limit its ability to fund its military campaign.
Shadow Fleet: A Key Component of Russia’s War Effort
Russia relies heavily on its fossil fuel revenue to fund its war against Ukraine. Since February 24, 2022, Russia has exported some 958 billion euros worth of fossil fuels – 68% of which was oil, 20% gas, and 12% coal, according to the Russia Fossil Tracker project led by CREA. The sanctions aim to disrupt this revenue stream and limit Russia’s ability to fund its military campaign.
Zelensky emphasized that Ukraine will continue working with its international partners to ensure that each of these vessels, every shipowning company, and the entire infrastructure of Russia‘s exports of oil and other energy resources are blocked. He noted that pressure on Russia and diplomacy aimed at ending the war must go hand in hand to achieve the necessary result.
The Shadow Fleet: A Complex Web of Vessels and Companies
The shadow fleet includes hundreds of older, often uninsured or poorly maintained tankers. These typically operate under the flags of other countries and have little transparency, making it difficult for regulators to enforce sanctions. The vessels are often registered in jurisdictions with weak regulatory oversight, allowing them to operate with minimal scrutiny.
Despite these challenges, Ukraine and its international partners are working to identify and sanction vessels tied to Russia‘s shadow fleet. This effort is critical to limiting Russia’s ability to fund its war and achieving a peaceful resolution to the conflict.
Original Article: Ukraine sanctions nearly 700 vessels tied to Russia’s ‘shadow fleet’ — Kyivindependent