Russia expands shadow fleet of oil tankers despite sanctions
Photo: Russia’s shadow fleet grows (Getty Images)
The shadow fleet of oil tankers has expanded since the West imposed sanctions on Russia over its war in Ukraine, stated Saad Rahim, chief economist at major trading house Trafigura, Reuters reports.
According to him, this fleet plays a key role in ensuring the supply of Russian oil to buyers despite restrictions aimed at reducing Moscow’s oil revenues.
"As there are more sanctions and restrictions, the size of the (shadow fleet) has grown even larger," Rahim said at the APPEC 2025 conference.
The tanker fleet continues to grow, with Moscow replacing ships that have been blacklisted. This allows Russia to maintain its raw material export volumes.
Sanctions on the shadow fleet
In May, the European Union approved its 17th package of sanctions against Russia. The restrictions targeted 189 vessels from third countries that are part of Russia’s shadow fleet and are responsible for transporting Russian oil.
Under the 18th sanctions package, the EU lowered the price cap on Russian oil from $60 to $47.6 per barrel. The decision came into effect on September 3.
The 19th EU sanctions package will introduce restrictions for ports that service the shadow fleet.
According to Ukraine’s Defense Intelligence (HUR), Russia’s shadow fleet currently numbers up to 1,000 mostly outdated vessels (with a total deadweight of over 100 million tons), which carry out the export of oil and petroleum products.
Oil and gas exports remain a key source of Russia’s budget revenue. Estimates indicate that a third of these revenues in 2025 will go toward financing the war against Ukraine.
