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Ghost fleets, Russia’s strategic asset to sell its oil under sanctions

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Ghost fleets, Russia’s strategic asset to sell its oil under sanctions

How many are there: 300, 400, 600… more? Since the European embargo on Russian oil in 2022 and sanctions that limited sales prices for Russian hydrocarbons in early 2023, G7 countries and their allies are concerned about the proliferation of the number of clandestine vessels used by Moscow to sell its oil. in complete opacity. So much so that the United Kingdom unveiled for the fourth time, on October 17, new sanctions against 18 new oil tankers that can no longer enter British ports or benefit from maritime services provided by companies in the country, particularly in terms of insurance. . The ships of the Russian “ghost fleet” – so numerous that it is better to speak of “the” ghost fleets – are increasingly elusive.

In fact, attention was first focused on old tankers chartered directly by Russia. These were mainly ships belonging to the Russian public hydrocarbon company Sovcomflot, insured by non-Western companies and sailing in conditions that were as opaque as they were risky from the point of view of maritime safety. But Sovcomflot quickly came under sanctions, soon followed by Sun Ship Management, the Dubai shipowner who had tried to quietly take back its ships in spring 2022.

Now, new ghost fleets have arrived as reinforcements or have taken over to transport Russian oil and hydrocarbons without respecting the maximum prices imposed by Western sanctions. They panic the radars of states and companies specializing in ocean surveillance, allowing Russia to continue benefiting from its oil windfall. However, there are not enough figures to measure the magnitude of the phenomenon.

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According to the latest estimates from the kyiv School of Economics, created in early October, Russia would have invested nearly 10 billion dollars (9.26 billion euros) to create a ghost fleet of several hundred ships, estimated at almost 600 in July. . . The latter would transport 70% of Russian oil exports by sea, and even 90% of crude oil. Volumes transported have quadrupled since April 2022.

Thus, part of the maritime transport market would now have passed into the hands of these small ultra-opaque operators, closely linked to Moscow and located in the United Arab Emirates as well as in India and Asia, as Public Eye noted in November 2023. , a Swiss organization that investigates the social responsibility of multinationals. Its expansion is carried out with the help of flags of convenience, particularly located on the African continent, such as in Liberia, where controls remain rare.

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