Sanctions-busting shadow ships are increasing - the big question is what to do about them
#Shadow fleet #Oil sanctions #Maritime law #Price cap #Environmental risk #Russia #Energy exports
📌 Key Takeaways
- A shadow fleet of over 600 tankers is being used to bypass international sanctions on oil exports.
- These vessels operate under opaque ownership and often lack standard P&I insurance coverage.
- The use of aging, poorly maintained ships poses a major environmental risk for oil spills in international waters.
- Western nations are responding by blacklisting individual ships, but owners frequently use shell companies to evade detection.
📖 Full Retelling
🏷️ Themes
Geopolitics, Energy Trade, Maritime Security
📚 Related People & Topics
Risk
Possibility of something bad happening
Risk is the possibility of something bad happening, comprising a level of uncertainty about the effects and implications of an activity, particularly negative and undesirable consequences. Risk theory, assessment, and management are applied but substantially differ in different practice areas, such ...
Shadow fleet
Sanction evasion in the maritime domain
A shadow fleet, also referred to as a dark fleet, is a ship or group of such shadow ships, "...that uses concealing tactics to smuggle sanctioned goods". Shadow fleets are a direct response to international or unilateral economic sanctions. The term therefore more broadly refers to practices of sanc...
Maritime law
Law of the oceans and their use
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Price ceiling
Method of price control
A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service. Governments impose price ceilings to protect consumers from conditions that could make commodities prohibitively expensive. Economists generally agree that ...