EU to prepare new sanctions against Russia’s shadow fleet by the end of the year
15.11.2024 - 13:22
The European Union is developing a new sanctions package aimed at combating the so-called “shadow fleet” of tankers.
The sanctions are expected to be approved by the end of 2024, Bloomberg reports, citing informed sources.
The sanctions include restrictions on tankers and individuals involved in the transportation of Russian oil. The details of the package are currently being discussed, and its adoption requires unanimous support from all 27 EU member states.
The EU is also working on a broader package of restrictions, which could include increased tariffs on Russian agricultural goods and additional restrictions on the trade in liquefied gas. This package is planned to be presented in January 2025 and adopted by February 24, the third anniversary of Russia’s full-scale invasion of Ukraine.
Previous sanctions by the EU, the US and the UK have already restricted the transportation of Russian oil, setting a price limit of $60 per barrel. However, Russia has created its own “shadow fleet” of tankers to circumvent these restrictions and continue to receive profits that go to finance military aggression.
The European Anti-Fraud and Abuse Office (OLAF) is investigating cases where sanctioned Russian oil is exported to the EU under other brands, including through Turkey.
The new restrictions are aimed at closing these loopholes, as well as at strengthening control over the transportation of Russian energy resources.
As we recall, President Volodymyr Zelenskyy previously stated that Russia earns $10-12 billion a month from the “shadow fleet”.
