In a resolution adopted on November 14, the European Parliament calls for more targeted sanctions against Russia’s ‘shadow fleet,’ which enables the country to export crude oil and petroleum products despite the price cap and provides a key financial lifeline for Moscow’s war on Ukraine.
MEPs call for restrictions against all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies.
Parliament also demands the systematic sanctioning of vessels sailing through EU waters without known insurance and urges the EU to enhance its surveillance capabilities, especially drone and satellite monitoring, and to conduct targeted inspections at sea.
MEPs want EU member states to designate ports capable of handling sanctioned vessels carrying crude oil and Liquified Natural Gas (LNG) and to seize illegal cargo without compensation.
Stressing that the impact of existing sanctions and the financial and military support to Ukraine will continue to be undermined as long as the EU imports Russian fossil fuels, MEPs urge the EU and its member states to ban all imports of Russian fossil fuels, including LNG.
According to a study by the Centre for Research on Energy and Clean Air (CREA), around 80% of Russia’s seaborne oil is now transported by the “shadow fleet” – vessels that the West cannot track.
The shadow fleet has also raised concerns about the risk of environmental disasters, including severe oil spills. According to CREA, a spill from a shadow tanker could cost coastal states $1.6 billion.
Bloomberg notes that the EU’s upcoming 15th package of sanctions against Russia will specifically target the shadow fleet and could be adopted by the end of the year.
Defunding and disarming Russia is in the interest of the entire world!