The European Union on Thursday imposed sanctions on 41 more ships in Russia's shadow fleet, taking the total of designated vessels to almost 600. The EU has imposed 19 packages of sanctions against Russia so far, but Moscow has managed to adapt to most measures and is still selling millions of barrels of oil to India and China, albeit at discounts to global prices.

Brussels

The European Union has imposed new sanctions targeting 41 additional vessels in Russia's shadow fleet, which is used to export oil outside the Western maritime industry. This action is part of ongoing efforts to cut off Russia's cash flow and pressure the Kremlin over its war in Ukraine.

The EU plans to continue sanctioning shadow fleet vessels on a monthly basis, with similar measures also being enacted by the UK. Recent reports indicate that nearly 42% of Russian seaborne oil exports in the first half of last year were transported by these shadow tankers, particularly from Baltic and Black Sea ports.

EU targets 41 additional vessels in Russia's shadow fleet

The EU has imposed a series of sanctions against Russia, but Moscow has managed to adapt and is still selling millions of barrels of oil to India and China. Much of this is shipped using what's called a shadow fleet, which operates outside the Western maritime industry. Sanctions this Thursday on Russia's war of aggression against Ukraine are being imposed on 41 more. This follows similar EU sanctions on Monday. The shadow fleet remains its cash lifeline and we are cutting it. To cut off Russia's cash flow faster, we will now also sanction shadow fleet vessels on a rolling basis with decisions every month. A summit on Tuesday in Helsinki, attended by several EU states on the bloc's eastern border, addressed the issue of Russian shadow fleet ships sailing into the Baltic Sea each day. We have done a lot, but sure, we are always running a race and for now the race is still ongoing. A European Parliamentary Research Service briefing a year ago said that Russian shadow fleet vessels operate across the globe. However, in the first half of last year, almost 42 percent of total Russian seaborne oil was exported from Baltic and Black Sea ports by shadow tankers. The EU's moves come as the UK this Thursday imposed sanctions on more Russian oil companies and traders making millions off illicit Russian oil. The goal is to pressure the Kremlin. This footage, shared by a Ukrainian security service official on the 10th of December, shows Ukrainian sea drones striking a Russian shadow fleet oil tanker in the Black Sea.

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Breakdown