EU's new sanctions target Russia's shadow fleet – Bloomberg
Illustrative photo: The EU may impose sanctions on Russia's shadow fleet (Getty Images)
The European Union plans to impose sanctions on Russia's shadow fleet. These restrictions will be part of the next sanctions package, according to Bloomberg.
Information about the European Union's plans to target Russia's shadow fleet, which is used to export its oil, was disclosed to the agency by unnamed sources.
The new sanctions package is also expected to include measures against individuals involved in the trade. Discussions on the restrictions to be included in the new package are ongoing.
The EU plans to approve new sanctions by the end of this year.
Russia established its shadow fleet for oil exports after the G7 imposed a price cap on Russian oil of $60 per barrel.
Shadow fleet
Despite Western sanctions, Russia continues to actively export its oil. Tankers previously targeted by sanctions are returning to transport Russian oil.
Russia’s shadow fleet consists of over 400 vessels, generating billions of dollars in revenue for the country annually.
Read more about Russia's shadow fleet in the material by RBC-Ukraine.
