Russian tankers are increasingly indicating Singapore as a destination, even though the country does not import oil from Russia. Such routes can be used to hide the end buyers and reduce the risks of sanctions.
This is reported by Reuters, citing traders and data from LSEG.
According to them, in January, tankers carrying about 1.4 million tons of Russian crude oil were formally heading to Singapore. This is the largest monthly volume in recent years.
Meanwhile, traders say Singapore itself does not buy Russian oil due to sanctions risks. Instead, its neighboring waters are sometimes used to transship oil from one ship to another.
Some tankers end up unloading near Malaysia or transferring oil to floating storage facilities. In such cases, Singapore may be listed as a temporary or nominal destination to disguise the real route.
One Moscow trader noted that the increase in the number of ships indicating Singapore, the Suez Canal or Port Said indicates difficulties in selling Russian oil and a shrinking circle of buyers.
Tankers bound for India also used to frequently specify intermediate destinations, such as Port Said or the Suez Canal. The use of such conditional routes has become more common as companies seek to conceal their ultimate buyers and reduce sanctions risks.
What is known about the Russian shadow fleet?
In early December 2022, the G7 members, as well as Australia and the EU, imposed price caps on Russian oil, setting a maximum price of $60 per barrel. In January 2026, the European Union reported a reduction in the price of Russian oil to $44.1 per barrel from February 1, 2026.
To circumvent oil sanctions, Russia has begun to form a shadow fleet. This is a fleet of old tankers that turn off their beacons so that they cannot be seen by surveillance systems. They are operated mostly by the Russian state company “Suchkomflot”. With its help, the Russian Federation transports an estimated 1.7 million barrels of oil per day, which brings large profits to the Kremlin.
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