EU outlines challenges in combating Russia's shadow oil fleet
Russia's use of a "shadow fleet" of tankers is a key tactic to evade EU sanctions on seaborne oil trade, according to David O'Sullivan, the EU's special representative for sanctions, in a discussion at the Brussels Center for European Policy, Ukrinform reports on Sept. 19.
David O'Sullivan, the EU's special representative for sanctions, stressed that the "shadow fleet" of tankers, used to bypass the oil price cap, is a key concern due to their poor condition, lack of insurance transparency, and the dangers they pose carrying hazardous cargo on the open sea.
He noted the EU's recent focus on imposing targeted sanctions on individual vessels involved in illegal oil handling and stressed that sanctioning these ships makes it harder for the system to operate.
O'Sullivan also highlighted the risks posed by the unregulated fleet, particularly the environmental dangers and the violation of price caps, while acknowledging that European companies like those in Greece and Cyprus are adhering to regulations.
He added that the EU is working to identify and sanction the numerous small front companies set up by Russia to support its shadow oil business, with the U.S. adopting measures to sanction companies tied to specific addresses, a tactic the EU is considering.
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