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OCCRP Investigation: Shadow Fleet, Western Ships Fueling Russia's War
A joint investigation reveals how US and EU shipping companies have profited handsomely from selling older oil tankers, which subsequently joined a "shadow fleet" facilitating Russia's oil exports despite sanctions. This fleet, potentially involved in espionage, uses vessels re-flagged and re-named in countries without sanctions against Russia. The investigation highlights a lucrative resale market, with Greek companies particularly implicated, earning billions. Although the EU mandates reporting, it lacks the authority to prevent these sales, enabling hundreds of Western-owned vessels to participate in circumventing sanctions. The lack of oversight and Western insurance further exacerbates the issue.
Published on 10 months, 4 weeks ago