RUSSIAN $50 Billion Shadow Fleet Shutdown
Video Summary
The Russian Shadow tanker Fleet is a group of around 600 vessels that are transporting Russian oil to avoid international sanctions. The fleet is often unregistered, and some of its vessels are more than 30 years old, which poses an environmental disaster risk if they were to have an accident or leak oil. Global pressure is mounting to stop these tankers, with the UK’s new Prime Minister announcing a plan to crack down on them. The EU has also agreed to start policing its waters, which means that shadow tankers carrying Russian cargo can be stopped and arrested. The shadow fleet is believed to be earning Russia around $50 billion per year, making it a key driver of the country’s economy. The move to clamp down on these tankers could significantly reduce this revenue and reduce the risk of environmental disasters. Additionally, some of these vessels may be involved in surveillance and providing intelligence to Russia, which could also be mitigated by closing down the shadow fleet. Overall, this is a positive development in the effort to bring the war in Ukraine to an end and reduce Russia’s ability to circumvent international sanctions.
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