Western Sanctions Curb Expansion of Russia’s Shadow Tanker Network
The expansion of the “shadow fleet” of tankers used to move sanctioned oil has slowed sharply this year, as tougher Western measures against Russia’s energy exports make it harder to acquire suitable vessels, shipping industry sources say.
The Gaze reports this, referring to Reuters.
Dozens of ships have joined the network in 2025, a marked drop from the hundreds added annually in previous years, after the EU and UK introduced their most severe sanctions yet over Moscow’s war in Ukraine.
Together with U.S. restrictions, more than 440 shadow fleet tankers are now under sanctions, including vessels critical for delivering Russian oil to top buyers such as China and India.
The shadow fleet, also used by Venezuela and Iran, consists mainly of older vessels with obscure ownership structures and no access to top-tier insurance, allowing them to skirt compliance checks by oil majors and international ports.
Estimates from sources including Lloyd’s List Intelligence and shipbroker Gibson put the fleet’s size between 1,200 and 1,600 tankers, roughly a fifth of the world’s total.
This is a steep increase from the few hundred operating before the war, but industry insiders say growth has slowed as sanctions lists expand and authorities scrutinize second-hand ship sales more closely.
The figure excludes hundreds of smaller coastal tankers, many used by Russia for domestic or regional shipments. “Regulators are closing the net,” said Anna Giacomello, an analyst with UK-based maritime risk intelligence firm Dryad Global. Despite the heightened risks, the prospect of high profits continues to lure some operators.
“Operators may still enter the shadow fleet because it can be highly lucrative,” said Leigh Hansson, a sanctions partner at law firm Reed Smith, adding that major established shipping companies are steering clear, leaving the trade to smaller, less experienced players willing to take on outdated vessels that reputable insurers will not cover.
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