On 15 December, the European Union (EU) adopted new sanctions against Russia, primarily aimed at the Russian shadow fleet. Additional individuals and companies have also been added to the sanctions list.
The Russian shadow fleet consists of hundreds of oil tankers that attempt to circumvent Western sanctions, for example to bypass oil restrictions or to steal grain from Ukraine and sell it in other countries. In this way, the shadow fleet is also involved in Russian support for the Houthis, who are making Yemen and the Red Sea unsafe.
The shadow fleet vessels are often old, frequently sail under false flags or without any flag, and regularly switch off their signals. As such, they pose a threat to maritime safety and the environment.
Also read: Shipping at the forefront of geopolitical crises
The new sanctions at a glance
- The EU is imposing additional sanctions on another 41 vessels from the Russian shadow fleet. As a result, these ships are no longer allowed access to European ports or services. The ban now applies to a total of 605 vessels. The Netherlands strongly advocated these new measures. The sanctions are imposed to impact Russia’s war chest and to protect the EU’s coasts.
- Sanctions against four companies and five individuals that support the shadow fleet, including oil traders and shipping companies in other countries.
- Sanctions against a Russian public prosecutor and a judge involved in serious human rights violations within the Russian legal system.
- Sanctions against twelve individuals and two organisations involved in Russian hybrid threats, including war propagandists.
Impacting state finances
The sanctions are impacting Russia’s state finances. Around EUR 300 billion of the Russian Central Bank’s assets have been blocked in the EU and G7 countries. More than EUR 21 billion in private assets has been frozen. In addition, Russia is missing out on approximately EUR 91 billion in exports to the EU — money it cannot use to wage war.
Export restrictions also mean that Russia has increasingly limited access to high-end technology, such as aircraft parts and computer chips.
Also read: Maritime Security Award for dark vessel research
Continued EU commitment
The EU states it remains committed to supporting Ukraine in its right to self-defence against Russian aggression and to helping build a peaceful, democratic and prosperous future. A complete overview of the sanctions can be found on the EU’s sanctions page.
Also read: ‘Tanker sanctions have had no effect on Russian oil exports’
