The European Union has launched its most extensive sanctions package to date against Russia’s so-called “Dark Fleet”, adding 189 tankers to its blacklist and bringing the total to 342 vessels.
The move marks a significant step in tightening enforcement around oil price cap breaches and sanctions evasion.
However, maritime intelligence firm Pole Star Global has expressed concern that the measures still fall short. According to David Tannenbaum, Partner in Sanctions & Maritime Intelligence at the company, more than half of the known shadow fleet remains untouched, despite clear indicators of non-compliance.
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“These sanctions are a significant escalation by the EU to target Russia’s Dark Fleet, including not just the vessels but also the companies that support the fleet, keeping it insured, chartered, and operational,” said Tannenbaum.
“But despite the scope, this action still misses a large portion of Russia’s Dark Fleet already identified by DBI [Pole Star’s Deep Blue Intelligence platform].”
Tannenbaum highlighted gaps in the EU’s designations, noting that while two prominent shipping firms, Cape Gemi and Prominent Shipmanagement, were included, only 21 of the 41 tankers operated by them were sanctioned.
Moreover, he pointed out that only one of Beks Denizcilik’s front companies was named, even though others operating at the same address continue to do business.
Pole Star’s DBI previously identified 266 tankers operated by eight major fleets suspected of price cap violations. Yet the latest EU package covers just 89 of them—approximately one-third.
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“A fair number of the vessels targeted by today’s designation fit a previously identified typology of using special purpose vehicles (SPVs) incorporated in the Seychelles to manage vessels on behalf of Azerbaijani or Moldovan groups. As we like to say during training, you can’t say Seychelles without saying ‘shell’,” Tannenbaum added.
The EU also sanctioned companies involved in facilitating crude transport outside the price cap, including Volgo Shipping and Eiger Shipping DMCC, as well as Russian insurer VSK.
The latter move aligns with the UK’s stance on high-risk P&I providers. According to Pole Star, VSK is linked to 366 vessels and reinsured by the already-sanctioned Russian National Reinsurance Company.
Pole Star estimates that nearly 1,500 vessels globally are currently insured by high-risk providers.
