The Rise of Russia's Shadow Fleet Amid Western Sanctions
Western sanctions targeting Russia's oil revenues have led to the emergence of a 'shadow fleet' of unregulated tankers. These vessels, often with opaque ownership, are crucial for transporting Russian crude amid the sanctions. The fleet poses environmental and safety risks, relying on dubious insurance practices.
Amid escalating Western sanctions aimed at crippling Russia's oil revenues, an extensive 'shadow fleet' of tankers has emerged, enabling Moscow to continue exporting crude. These unregulated vessels are now crucial in Russia's strategy to circumvent economic penalties.
Recent weeks have highlighted the fleet's significance and controversies surrounding it. Estonia attempted to halt a sanctioned UK tanker, flagless in defiance of maritime laws, leading to increased tensions and military posturing in the Baltic Sea. Additional sanctions have targeted this shadow fleet's operation, stressing the geopolitical stakes involved.
Experts warn of the potential dangers posed by this fleet, which consists largely of aging vessels with non-transparent ownership and insurance details. There are heightened concerns over safety standards, environmental threats, and the long-term implications of this clandestine operation on international oil markets.
(With inputs from agencies.)
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