Members of the European Parliament (MEPs) have approved targeted sanctions against Russia’s so-called shadow fleet of oil tankers, which enables Moscow to export significant amounts of crude oil and petroleum products despite sanctions imposed by the EU, G7, and the international community.
Concerns are mounting over the age and lack of insurance of these tankers, which could potentially result in ecological disasters, including incidents in EU waters.
In response to a price cap on Russian oil agreed by the international community at the end of 2022, aimed at countering Russia’s invasion of Ukraine, Russia has turned to this shadow fleet.
The $60 (€55) per barrel price cap was designed to restrict Russia’s income for its war efforts without causing a spike in global oil prices.
To bypass this limitation, Russia has been chartering old and uninsured vessels to sell its oil at elevated prices.
This situation has raised alarms that approximately 600 of these vessels pose a risk of oil spills, with cleanup costs likely not covered by insurance.
The resolution called for sanctions on vessels navigating through EU waters without insurance.
Concurrently, the shadow fleet has enabled Russia to amass billions in oil revenues that would have been curtailed by the price cap.
In a resolution passed by a show of hands, the European Parliament urged the implementation of more targeted measures against such vessels in upcoming EU sanctions packages, targeting specific ships, their owners, operators, managers, accounts, banks, and insurance firms.
The resolution received co-sponsorship from the centre-left Socialists and Democrats group, the centre-right European People’s Party, the Greens, the liberal Renew Group, and the right-wing European Conservatives and Reformists.
Additionally, it called for the sanctioning of vessels operating in EU waters without insurance and urged the enhancement of EU surveillance capabilities, particularly through drone and satellite monitoring, along with targeted maritime inspections.
MEPs requested that member states identify ports equipped to deal with sanctioned vessels transporting crude oil and Liquefied Natural Gas, and take action to seize illegal cargo without providing compensation.
The non-binding resolution also urged G7 countries to enforce the price cap and to address loopholes that have allowed Russia to repackage and market its oil at prevailing rates.
Furthermore, the text suggested that member states reassess their bilateral cooperation with third countries aiding Russia in evading EU sanctions.
Since January 2022, Russia has progressively escalated its oil exports via the shadow fleet, rising from 2.4 million metric tonnes to 10.8 million metric tonnes by July of this year.
According to the Centre for Research and Clean Air, nearly 400 vessels transported Russian crude oil and oil products in October, with 222 identified as “shadow” tankers—about a third of which were at least 20 years old.
Sinn Féin MEPs Lynn Boylan and Kathleen Funchion voted in favor of an amendment from the far-right Patriots group, urging the European Commission to audit the consequences of sanctions on Russia concerning energy and food prices.
Both MEPs, along with Independent MEP Luke Ming Flanagan, also backed a second amendment calling for the EU to initiate an “ambitious” diplomatic initiative aimed at achieving a ceasefire and concluding the conflict in Ukraine.
However, both amendments were ultimately defeated.
