US Lawmakers Introduce Legislation to Target Russia’s “Shadow Fleet”
A group of Republican and Democratic U.S. senators introduced legislation on Friday that would expand sanctions against Russian energy, specifically by targeting a collection of older oil tankers the lawmakers say are used to dodge existing U.S. energy sanctions.
The bill is sponsored by Senator Jim Risch of Idaho, the chairman of the Senate Foreign Relations Committee, and Senator Jeanne Shaheen of New Hampshire, the panel’s top Democrat, as well as seven other Republican and Democratic senators. The legislation aims to target the so-called Shadow Fleet by providing a list of indicators the U.S. can use to identify vessels supporting the Russian fleet, establish strict sanctions liability for any ship that engages in a transfer with a sanctioned vessel.
Sanctions Liability and Transfer Restrictions
The bill would impose sanctions on any ship that engages in a transfer with a sanctioned vessel, effectively cutting off Russia‘s ability to circumvent existing sanctions. This move is seen as a significant step in the effort to weaken Russia’s energy sector and limit its ability to fund its military activities.
Nord Stream II Pipeline and LNG Projects
The bill also sanctions Russian Arctic liquid natural gas projects and new Russian LNG project development, as well as ending the Nord Stream II natural gas pipeline to Europe. This move is seen as a major blow to Russia‘s energy ambitions and a significant step in reducing its influence over European energy markets.
Bill’s Prospects Unclear
The bill’s prospects were not clear, however. A separate bill seeking to impose stiff sanctions on Russia, introduced early this year and backed by a large majority of senators, has not advanced, as Congress’ Republican leaders await word from the current president on whether he wants sanctions to go ahead.
As the world reacted to a Russian incursion into Estonian air space that raised fears of increased instability, different groups of senators also introduced separate bills on Friday seeking to boost security in Eastern Europe and use frozen Russian assets to help Ukraine.
Conclusion
The introduction of this legislation marks a critical moment in U.S. efforts to counter Russian aggression and influence in global energy markets. The outcome of this bill remains uncertain, but it reflects a bipartisan commitment to addressing the challenges posed by Russia’s actions.
Original Article: US lawmakers want sanctions to sink Russia’s ‘shadow fleet’ — Reuters