EU Imposes Fresh Sanctions on Russia, Targets Shadow Fleet of Oil-Carrying Ships

Strategic Insights -

The European Union on Tuesday agreed to impose fresh sanctions on Russia, targeting nearly 200 ships from the shadow fleet illicitly transporting oil to skirt western restrictions over Moscow's war in Ukraine. The bloc's foreign ministers endorsed the measures, which also include asset freezes and travel bans on several officials and Russian companies. The sanctions come as Russia uses its shadow fleet to transport oil and gas, as well as stolen Ukrainian grain. The EU has now targeted almost 350 of the ships in total.

Key Takeaways:

  • The EU has targeted 189 ships in total, with the latest sanctions targeting nearly 200 ships from the shadow fleet.
  • The measures also include asset freezes and travel bans on several officials and Russian companies.
  • The EU foreign policy chief, Kaja Kallas, stated that President Vladimir Putin "feigns interest in peace, more sanctions are in the works."
  • Russia's actions and those who enable Russia face severe consequences, according to Kallas.
  • The shadow fleet involves around 500 aging ships of uncertain ownership and safety practices, according to Ukrainian officials.
  • The EU also targeted people and companies, including an insurer, that make it possible for the shadow fleet to operate.
  • The sanctions will hit interests in the United Arab Emirates, Turkey, and Hong Kong.

Statistics:

  • The EU has targeted almost 350 ships in total.
  • The new sanctions will also hit 18 more ships in the "shadow fleet" carrying Russian oil.
  • The shadow fleet involves around 500 aging ships of uncertain ownership and safety practices, according to Ukrainian officials.
  • Ratings agency S&P Global and the Kyiv School of Economics Institute put the number of ships at over 400 that can transport oil or products made from crude.

Sources:

  • The European Union
  • Kaja Kallas, EU foreign policy chief
  • President Vladimir Putin
  • Ukrainian officials
  • S&P Global ratings agency
  • Kyiv School of Economics Institute