The US proposes to confiscate oil from tankers of Russia’s “shadow fleet”

The bill proposes to seize oil from tankers of the Russian “shadow fleet” and to create a fund to enforce sanctions.

The corresponding initiative was introduced on April 9 by two US senators from both parties, Reuters reports.

The document provides for the creation of a fund to enforce sanctions against the so-called “shadow fleet” of tankers, which Russia relies on to transport oil to avoid Western sanctions over the war in Ukraine.

The bill, introduced by Republican Senator Joni Ernst and Democratic Senator Richard Blumenthal, creates a fund to enforce sanctions against vessels that sometimes also transport oil from Iran.

The initiators propose the creation of a fund to enforce sanctions against Russia in the US Treasury Department with initial funding of $ 150 million in 2025.

Any oil seized by the U.S. would be sold, with the proceeds ultimately going to pay down the U.S. national debt — though the sums would be small compared to the $36 trillion in debt.

“Russia continues its malign activities, using a ‘ghost fleet’ to evade U.S. sanctions, enrich its war machine, and even aid in the smuggling of Iranian oil,” said Ernst, a Republican.

She said the legislation would improve intelligence sharing and give law enforcement tools to crack down on “illegal” trade networks.

“This bill would also allow our country to use seized assets to reduce its national debt,” Blumenthal said. “These measures would give real force to our export restrictions.”

It’s unclear what the bill will do in Congress, although taking action against Russia and Iran is an issue that many lawmakers in both parties agree on.

USM previously reported that foreign intelligence had exposed another captain of the Russian shadow fleet.