The EU Council has imposed sanctions on 41 additional vessels from Russia’s so-called “shadow fleet.” The list includes tankers transporting Russian oil in circumvention of sanctions, as well as “vessels that are responsible for transporting military equipment for Russia or [are] involved in the transport of stolen Ukrainian grain and cultural goods from Ukraine,” the Council said in a statement.
As a result, the total number of shadow fleet vessels sanctioned by the EU has reached nearly 600. “The EU remains ready to step up pressure on Russia and its shadow fleet value chain, including by adopting further sanctions,” the statement added.
In early December, Reuters reported that the G7 and the EU were discussing replacing the price cap on Russian oil with a full ban on providing maritime services for the transportation of Russian crude.
Currently, more than one-third of Russia’s oil exports — mainly to India and China — are shipped on vessels controlled by companies from EU countries, primarily Greece, Cyprus, and Malta. The remaining supplies are already being transported by Moscow using the shadow fleet in order to bypass the price cap. According to Lloyd’s List Intelligence, the overall network of carriers handling sanctioned oil from Russia, Iran, and Venezuela includes more than 1,400 vessels.