Brussels (Brussels Morning Newspaper) – EU Parliament demands more targeted EU measures against Russia’s so-called ‘shadow fleet’, which acts as a financial lifeline for Moscow’s war in Ukraine.
In a resolution adopted on 14 Nov 2024, the European Parliament calls for more targeted actions against Russian vessels in the following EU sanctions packages, including all individual ships as well as their proprietors, operators, supervisors, accounts, banks and insurance firms.
How the Russia’s ‘shadow fleet’ network operate?
MEPs stated that Russia operates old tankers, usually uninsured and with opaque ownership, to export its crude oil and petroleum products abroad, despite EU, G7 and international sanctions. These actions have also extended fears over the risk of environmental catastrophes, including severe oil spills. They contend that as part of systematic steps to undermine EU restrictive actions, the ‘shadow fleet’ provides a critical financial lifeline for Russia in its criminal and inexcusable war of aggression against Ukraine.
What steps can be taken to enforce sanctions on Russian vessels?
The resolution urges the systematic sanctioning of vessels sailing via EU waters without understood insurance and recommends the EU improve its surveillance capabilities, especially drone and satellite monitoring, and operate targeted inspections at sea. MEPs want EU member states to establish ports capable of handling sanctioned ships carrying crude oil and Liquified Natural Gas (LNG) and to capture illegal cargo without compensation.
Moreover, the resolution further urges G7 countries to better implement the price cap set on Russian seaborne oil, to substantially reduce the oil price cap and to crack down on the loopholes utilised by Russia to repackage and market its oil and oil products at market prices.
Should the EU ban all imports of Russian fossil fuels?
Emphasizing that the impact of existing sanctions and the financial and military backing to Ukraine will continue to be sabotaged as long as the EU imports Russian fossil fuels, MEPs demand the EU and its member states prohibit all imports of Russian fossil fuels, including LNG.
Indicating the necessity for much more stringent enforcement of current EU sanctions, the text also notes that the EU should seriously reassess its bilateral partnership with third countries that are supporting Russia to circumvent EU restrictive measures in place if diplomatic measures are unsuccessful.
