Last news in Fakti

European Parliament calls for tougher sanctions against Russia's shadow fleet

MEPs want enhanced measures and strict controls on Russian vessels circumventing EU and G7 sanctions

Nov 14, 2024 15:52 97

European Parliament calls for tougher sanctions against Russia's shadow fleet  - 1

MEPs call for more targeted EU sanctions against the so-called "shadow fleet" of Russia, which provides a key financial resource for Moscow's military actions in Ukraine, quoted by News.bg.

The European Parliament says Russia is using old tankers, often uninsured and with unclear ownership, to export crude oil and oil products abroad, despite EU and G7 sanctions. These activities also raise serious concerns of environmental catastrophes, including potential severe oil spills.

"The Shadow Fleet" provides critical financial means for Russia, which uses these revenues in its ongoing aggression against Ukraine, the EP emphasizes. In a resolution adopted today, the European Parliament is calling for tougher measures against these vessels in future EU sanctions packages.

The MEPs are calling for the individual naming of all the vessels involved, as well as their owners, operators, managers, accountants, banks and insurers. They also want automatic penalties for vessels that sail in EU waters without insurance, and are pushing for increased drone and satellite surveillance capacity and targeted inspections at sea.

EP calls on member states to designate ports that can handle sanctioned vessels transporting crude oil and liquefied natural gas and confiscate illegal cargoes without compensation.

The resolution also calls on the G7 countries to more effectively enforce the imposed price cap on Russian oil transported by sea, as well as reduce the price cap and take action against loopholes used by Russia to circumvent these restrictions.

The effectiveness of sanctions and support for Ukraine is being undermined as the EU continues to import Russian fossil fuels, MEPs warn. They call on the EU and member states to impose a complete ban on the import of Russian fossil fuels, including liquefied natural gas.

The resolution emphasizes the need for strict enforcement of existing sanctions and states that the EU should seriously reassess its cooperation with third countries that help Russia circumvent these measures if diplomatic efforts fail.