An oil tanker at the port of Novorossiysk, one of the largest facilities for oil and petroleum products in southern Russia
The Russian government wants to export oil. However, Western companies are not allowed to insure the carriers they need. Hundreds of ships are barely seaworthy.
DrThe second largest port in the world begins to crack down on the dreaded “Shadow Fleet”. At the same time, the insurance company Allianz warns of the consequences of the Russian invasion of Ukraine for shipping and the environment. The owners of the tankers carrying Russian oil use treacherous tactics to cover up the breaking of sanctions.
The so-called shadow fleet allows Russia to effectively sell its oil but without insurance. Of the approximately 900 large or very large tankers operating worldwide, about 20 percent have violated sanctions imposed on Iran, Venezuela and increasingly Russia,” the insurers note. In total, the shadow fleet is estimated at about 600 tankers. Its use alone is That enables sanctioned countries to continue to run a thriving oil trade. “Russia and its allies are trying to circumvent sanctions,” says the latest Safety and Shipping Review from Munich. Russia has amassed a fleet of about a hundred ships to transport its oil. It may be able to access to another 200 ships from countries like Venezuela and North Korea.”