Energy News Beat
Shipping companies from Western countries sold off discarded oil tankers that became part of Russia’s shadow fleet, according to a joint report by investigative news media from several European countries.
According to the cross-country investigation “Shadow Fleet Secrets” published by news outlets from Germany, Belgium, Norway, Denmark and the United Kingdom on Tuesday, about 230 ships originating from Europe and the US are now part of the fleet operated by Russian owners.
The majority of them are reported to be of old age and in poor condition, making them potential environmental hazards in international waters.
Since the EU imposed sanctions on Russian oil after the Kremlin’s full-scale invasion of Ukraine in 2022, oil tankers operated by companies that can be indirectly traced back to Russia have continuing to generate revenue for the Kremlin.
These vessels have also been implicated in the sabotage of cables in the Baltic Sea.
Between 2022 and 2024, German shipping companies Schulte, Chemikalien Seetransporte and Salamon AG were responsible for selling eleven oil tankers to Chinese and Turkish companies – generating a revenue of 200 million euros. These eleven tankers later ended up in the shadow fleet, German newspaper Süddeutsche Zeitung and public broadcaster NDR, who were part of the investigative team report.
Crude oil tankers ‘Angelica Schulte’ and ‘Cup’, sailing under the flags of Antigua and Barbuda and Liberia, respectively, have since been put on a US sanctions list, suspected to of being part of the shadow fleet.
While direct sales of vessels to Russian buyers are prohibited under EU sanctions, sales to third countries are not – though sales from 2023 onwards have to be registered with EU authorities.
[DC/OM]
We give you energy news and help invest in energy projects too, click here to learn more
Crude Oil, LNG, Jet Fuel price quote
ENB Top News
ENB
Energy Dashboard
ENB Podcast
ENB Substack
The post European shipowners helped build Russia’s shadow fleet, investigation says appeared first on Energy News Beat.
