Russia has withdrawn some of its “shadow fleet” companies abroad
3.03.2025 - 11:03
Russia has transferred some of the companies that operate the so-called shadow fleet vessels transporting oil abroad.
One of the largest centers of the “shadow fleet” has become Dubai, according to the Yle investigation.
Thus, more than 60 shell companies have a luxury hotel in Dubai as their registered address. A virtual office was found at the address, from which thousands of companies are managed – but only on paper.
In particular, one of the companies is registered with the tanker Eagle S, which is suspected of damaging underwater cables in the Gulf of Finland.
Foreign Minister Elina Valtonen noted that the opaque structure of the Russian “shadow fleet” is a big problem. For example, if a serious oil spill occurs in the Baltic Sea, it is unclear how to hold someone accountable.
According to Valtonen, the EU is currently looking for ways to tighten sanctions against the Russian oil sector. One of the restrictions could be sanctions against companies operating the “shadow fleet” vessels.
However, one of the challenges with sanctions against the Russian Federation is that certain countries do not comply with the sanctions restrictions.
The investigation also notes that a number of EU countries — including Slovakia, the Czech Republic and Hungary — continue to buy Russian oil, while the “shadow fleet” helps Russia sell oil to third countries, bypassing the price ceiling imposed by the G7 countries.
USM previously reported that Finland has lifted the arrest of a vessel suspected of damaging submarine cables.
