Dubai, UAE, has emerged as a key hub for Russia’s “shadow fleet,” with companies registered there owning at least 55 vessels listed under Western sanctions.
That is according to an investigation by the Finnish publication Yle‘s MOT editorial team, as reported by Ukrinform.
It is noted that the vessel Eagle S, suspected of damaging the Estlink 2 electricity cable between Finland and Estonia, is also owned by a Dubai-based company.
Journalists investigated the origins of 149 ships in Russia’s “shadow fleet” under Western sanctions. The investigation reveals that Russia has established a broad international network to circumvent economic sanctions.
The “shadow fleet” is primarily used to transport oil and gas from Russia under the flags of countries not subject to sanctions.
Notably, the names of the ships, their flags, and their owners frequently change. Approximately one-third of the ships reviewed had changed names within a month of sanctions being imposed or later. Similarly, nearly one-third changed owners and managing companies responsible for their operations. More than one-fifth of the vessels switched to other flags.
Journalists believe the actual numbers are likely higher, as the EU and the UK have added dozens of tankers to their sanctions lists since mid-December.
The investigation highlights that owning companies are not only based in Dubai but also in India, China, and small island states where ownership relationships are easier to conceal.
Last year, Europe received a record amount of Russian liquefied gas.
As Ukrinform previously reported, the U.S. has expanded sanctions on Russia’s energy sector, including targeting hundreds of tankers in the shadow fleet.
Source: Dubai emerges as key hub for Russia's "shadow fleet" – media
