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False-Flag Tankers Moved €4.7 Billion of Russian Oil in 2025, CREA Finds

The report urges EU and UK crackdowns on permissive registries to curb the expanding shadow fleet.

Overview

  • CREA identified 113 Russian-linked vessels flying false flags in January–September, carrying about 11 million tonnes of oil.
  • India was the largest single destination, receiving 5.4 million tonnes worth €2.1 billion via 30 such tankers.
  • At least 96 sanctioned ships used false flags this year, with 85 reflagging repeatedly within six months of being sanctioned.
  • False-flagged cargo valued at €1.4 billion transited the Danish Straits in September, highlighting risks from uninsured, aging tankers.
  • The analysis drew on Equasis records cross-checked with the IMO GSIS, as experts warn enforcement could prove costly and politically fraught.