Investigation uncovers Russia's 'shadow fleet' of 230 tankers evading sanctions
The Russian "shadow fleet", responsible for exporting oil while bypassing international sanctions, comprises 230 tankers previously owned by companies in the US and Europe, according to an investigation by an international consortium of journalists, as reported on Tuesday incluiding German TV channels NDR and WDR.
These vessels, which account for over a third of Moscow's "shadow fleet," were sold to Russia after its full-scale invasion of Ukraine, a time when the prices for second-hand tankers had doubled compared to the period before the war, according to investigative journalists.
The sale of these ships brought billions of euros to their former owners, including German firms. Between 2022 and 2024, 11 tankers that belonged to German shipping companies were sold and became part of Russia's "shadow fleet," generating around 200 million euros in transactions alone.
Notably, the investigation highlights the sale of tankers by shipping companies Schulte and Chemikalien Seetransport GmbH from Hamburg, as well as Salamon AG from Dortmund.
German channels noted that selling tankers to a "shadow fleet" is not illegal. However, shipowners engaging in such deals were fully aware of where these tankers would ultimately go, according to Lloyds List Intelligence industry expert Michelle Bockmann.
The German Shipowners' Association (VDR) described the findings as "a concerning development" in their response to journalists. The sale of vessels should be handled with responsibility, especially considering the geopolitical tensions, the VDR asserted. They stressed that profits from selling tankers should not compromise safety or ethical principles.
The Russian "shadow fleet," estimated by the Kyiv School of Economics to number over 650 vessels, has been under scrutiny in 2024 not just for the illegal transportation of Russian oil but also due to incidents involving infrastructure damage in the Baltic Sea.
Specifically, one of the "shadow fleet" vessels was suspected of intentionally damaging the Estlink-2 underwater communication cable in the Gulf of Finland at the end of 2024. Hence, European military, intelligence agencies, and policymakers view Russia’s "shadow" fleet as a significant security threat.