Western Firms Sold Ships to Russia's Shadow Fleet Despite Sanctions

Investigations reveal that European and U.S. companies, including German firms, profited from tanker sales enabling Russia to bypass oil embargoes.

Investigations show that 230 of the 650 tankers in Russia's 'shadow fleet' were sold by Western companies, including 11 from German firms, between 2022 and 2024.
The sales, which generated billions in revenue for sellers, were reportedly conducted at unusually high prices due to the surge in demand following Russia's invasion of Ukraine.
These tankers help Russia circumvent international sanctions by transporting oil while avoiding price caps, generating an estimated $15 billion in additional revenue for Russia.
Concerns have been raised about safety and environmental risks, as many of these tankers are old, uninsured, and prone to accidents with no liability coverage.
The German Shipowners' Association labeled these developments 'concerning,' emphasizing that financial gain should not come at the expense of compliance or ethical standards.