Since 2022, sanctions on Russian oil have aimed to choke off the revenues fuelling Moscow’s war in Ukraine. Yet despite embargoes and price caps, Russian crude continues to flow through global markets in vast quantities. At the centre of this paradox is the so-called ‘shadow fleet’ of ageing tankers, hidden owners and covert operations, purposefully designed to bypass sanctions. How large is this fleet? Who controls it? How do its activities blunt Western sanctions and how much does it contribute to Russia’s war against Ukraine? This Focus Paper casts light on these questions and suggests ways forward to deprive Moscow from an income that flows directly into its weapon industry.
Download the Focus Paper 54Research lines: Eurasia; Europe
Image generated by AI
Focus Paper 54
Casting Light on Russia’s Shadow Fleet:
Exposing a Sanctions Evasion Network at Sea