Press release – Parliament calls for an EU crackdown on Russia’s ’shadow fleet’
2024-11-14 11:13 PM
Following the publication of a study by the European Parliament Research Service on the role of Russia’s so-called ’shadow fleet’ in the transport of sanctioned oil, the European Parliament has invited the Commission to draft legislation to address the issue.
In the resolution adopted today, MEPs acknowledge the EU’s dependency on the Russian fossil fuel industry and the imperative to reduce the import of these fuels. However, they warn that “by outsourcing its oil transportation activities to third countries and using [the shadow fleet] to bypass the sanctions regime, Russia continues to reap significant financial benefits from its oil sales”.
The resolution stresses that the shadow fleet is “a collection of ships that have been transferred from Russian ownership to companies in third countries, often through shell companies or other opaque legal structures” and that it has “facilitated the Kremlin’s ability to avoid sanctions and continue its trade in fossil fuels”.
MEPs call on the Commission to “draft legislation which will ensure that EU companies do not support the Russian shadow fleet”, either directly or indirectly. Furthermore, they urge the Council and Member States to “ensure that all necessary measures are taken to implement the legislation effectively”.
The resolution also calls on the EU to support third countries in implementing the sanctions against Russia.
Background
The European Parliament’s resolution is based on a study by the European Parliament Research Service (EPRS) on the role of Russia’s so-called ‘shadow fleet’ in the transport of sanctioned oil. The study found that the shadow fleet has helped Russia to bypass sanctions and continue to sell its oil on the global market.
The shadow fleet is a collection of ships that have been transferred from Russian ownership to companies in third countries, often through shell companies or other opaque legal structures. This allows Russia to continue to export oil without violating the sanctions, as the ships are no longer considered to be Russian-owned.
The study found that the shadow fleet is a significant problem, as it allows Russia to continue to profit from its oil sales and undermine the sanctions regime. The study also found that the shadow fleet is a risk to the environment, as the ships are often not properly maintained and are more likely to cause accidents.
The European Parliament’s resolution is a call for action to address the problem of the shadow fleet. The resolution calls on the Commission to draft legislation to ensure that EU companies do not support the shadow fleet, and on the Council and Member States to implement the legislation effectively.
Press release – Parliament calls for an EU crackdown on Russia’s ’shadow fleet’
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