The EU is preparing new sanctions against Russiaʼs shadow fleet

The European Union is working on a new package of sanctions against the shadow fleet of the Russian Federation, which Russia uses to deliver its oil to circumvent international bans. New sanctions should be adopted by the end of this year.

This is reported by Bloomberg with reference to sources.

Sanctions, in particular, will include fines against people involved in the trade in Russian oil. EU members are still debating the details of the restrictions — which require a unanimous vote to pass.

In recent months, it has become increasingly difficult for the European Union to pass sanctions packages, as Hungary often uses its veto power to block such decisions.

The EU also wants to raise taxes on imports of agricultural products and fish from Russia and Belarus into the EU. However, the adoption of trade measures, unlike sanctions, does not always require the unanimous support of all the countries of the European Union, Bloomberg wrote earlier.

The publication now suggests that this package of restrictions could be presented as early as January, to be adopted on February 24, the third anniversary of the full-scale Russian invasion.

What preceded

At the beginning of December 2022, the members of the "Big Seven", as well as Australia and the EU, imposed price restrictions on Russian oil, setting a maximum level of $60 per barrel. From February 5, 2023, these countries introduced a price ceiling for Russian petroleum products: $100 for diesel fuel, $45 for various lubricants. To circumvent oil sanctions, Russia began to form a "shadow fleet".

In July, British Prime Minister Keir Starmer announced a crackdown on Russiaʼs so-called shadow fleet of oil tankers that help it evade sanctions. Then, under the leadership of Great Britain, 44 European countries and the European Union agreed to new sanctions. Later, the USA and Canada joined the program.

At the same time, Prime Minister Starmerʼs Office noted that some of the ships of the shadow fleet are acting as Russian listening stations, while others are transporting weapons to Russia.

In July, Keir Starmer said that Russiaʼs shadow fleet consists of almost 600 vessels and is approximately 10% of the worldʼs "wet cargo"; fleet. With its help, the Russian Federation transports approximately 1.7 million barrels of oil per day, which brings great profits to the Kremlin.

• Great Britain imposed sanctions against 11 ships carrying Russian oil. And on October 17, the country introduced its largest package of sanctions against Russiaʼs shadow fleet of oil tankers. At that time, 18 Russian oil tankers and four liquefied natural gas tankers were restricted.
• In the 14th package of sanctions against Russia, which the EU adopted in June, sanctions were imposed against 27 ships of the "shadow fleet". Identical restrictions, in particular, were introduced by the USA and Switzerland.

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