A report from Allianz SE highlights the serious environmental and safety risks posed by a burgeoning 'shadow fleet' of oil tankers carrying sanctioned Russian crude
A report from Allianz SE highlights the serious environmental and safety risks posed by a burgeoning ' shadow fleet ' of oil tankers carrying sanctioned Russia n crude. Over the past three years, as international sanctions on Russia n oil and gas exports have tightened due to its invasion of Ukraine, a significant number of older, under-regulated vessels have emerged to maintain the flow of these exports.
These tankers frequently engage in hazardous practices such as ship-to-ship transfers in open waters and deactivating AIS transponders to conceal their movements and identities. To date, there have been at least 50 reported incidents involving these shadow fleet tankers, including fires, engine failures, collisions, loss of steerage, and oil spills. These incidents often impose significant costs on governments or other vessels' insurers when they are caught in the crossfire.
Sanctions Tankers Shadow Fleet Safety Risks
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