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The “Shadow Fleet” Poses a Challenge to the Fairness of the International Oil Trade

June 5, 2024

Illegal tankers transporting oil from countries under Western sanctions, such as Iran, Venezuela, and Russia, pose a dual threat to the environment and maritime security, thereby challenging the fairness of the international oil trade.

The “shadow fleet” comprises approximately 850 tankers, operating with minimal oversight. These vessels utilize non-western insurance companies and maritime services while disregarding established safety protocols.

This scenario presents a significant environmental hazard, with these tankers risking oil spills that could inflict severe harm on marine ecosystems and coastal areas.

Furthermore, the involvement of the “shadow fleet” in illicit activities not only finances illegal endeavors but also aids sanctioned nations in evading imposed sanctions.

Recognizing the gravity of this issue, Greek officials have taken measures to restrict the movement of such vessels along the country’s coastline.