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US sanctions ‘unprecedented number’ of shadow fleet shipsUS sanctions ‘unprecedented number’ of shadow fleet ships

In a sweeping new round of sanctions against Russian oil trading the US Treasury has blocked 183 vessels from the shadow fleet.

Marcus Hand, Editor

January 13, 2025

2 Min Read
US President Joe Biden
US President Joe BidenCredit: Whitehouse official portrait

In a significant ratcheting up of sanctions on Russian oil trading in the final days of the Biden administration the United States’ Office of Foreign Assets Control (OFAC) has sanctioned two Russian oil producers, 183 vessels – mainly tankers, insurance companies, dozens of traders of Russian oil, and service providers.

The sanctions on vessels were described by the US Treasury Department as an “an unprecedented number” and comprise 183 ships both from Russian and international owners.

The sanctions cover 69 vessels owned by Sovcomflot, including 54 oil and product tankers, and four LNG carriers. It has also blocked 10 bunker tankers belonging to Gazpromneft Marine Bunker, and sanctioned 13 vessels associated with Rosnefteflot, as well four other ships from individual Russian owners.

The remaining vessels sanctioned out of 183 ships are part of the shadow fleet comprising ships registered with Panama, Vietnam, Gabon, Antigua & Barbuda, Sierra Leone, Barbados, Cook Islands, Liberia, San Marino, and Belize.

Full list of the vessels sanction is available here

The US Treasury has also sanctioned Moscow-headquartered marine insurance providers Ingosstrakh Insurance Company and Alfastrakhovanie Group that have been involved in insuring vessels transporting Russian oil and products.

Related:Shandong Port Group bans entry of US-sanctioned vessels

“The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine,” said Secretary of the Treasury Janet L. Yellen.

“This action builds on, and strengthens, our focus since the beginning of the war on disrupting the Kremlin’s energy revenues, including through the G7+ price cap launched in 2022. With today’s actions, we are ratcheting up the sanctions risk associated with Russia’s oil trade, including shipping and financial facilitation in support of Russia’s oil exports.”

Incoming US President Donald Trump said on Thursday he is setting up a meeting with Russian counterpart Vladimir Putin. Trump told news conference, “We have to get that war over with. That’s a bloody mess.” Referring to Russia’s three-year long war in Ukraine.

The Kremlin welcomed the proposed meeting between Trump and Putin although no timeline has been set. Trump previously pledged to end the Ukraine war with 24 hours of taking office on 20 January.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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