• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Mideast oil powerhouse bans Russian ‘shadow fleet’ vessels that seek to undermine sanctions

by August 14, 2024
written by August 14, 2024

The United Arab Emirates has pushed back on Russia’s efforts to circumvent Western sanctions through a ‘shadow fleet’ by refusing entry to its port for any ship from the African country of Eswatini. 

‘Using a ‘shadow fleet’ to smuggle oil while concealing its origin, in order to circumvent Western economic sanctions has been part of Putin’s playbook of sanction-proofing Russia’s economy,’ Rebekah Koffler, a former DIA intelligence officer and author of ‘Putin’s Playbook,’ told Fox News Digital. 

‘Moscow anticipated U.S. sanctions prior to the invasion of Ukraine,’ Koffler said. ‘So, Putin has been sanction-proofing the Russian economy with several measures since 2014, when the Russian forces took over Crimea.’

‘The vessels comprising this dark fleet are typically aging, lack proper safety standards, lack insurance, hence they present a threat to maritime security as they can create a hazardous situation at any time,’ she added. 

A list of ships published by the UAE Ministry of Energy and Infrastructure names Eswatini as the latest country to which no services from any UAE ship agents or maritime company should be provided as they ‘are not complying with this circular to avoid legal accountability.’ 

‘…this Administration has decided to include the vessels registered under the flag state of Eswatini (Swaziland) to the existing list of restricted flag State vessels calling UAE waters and ports, unless they are classified by a member of IACS Class or by the Emirates Classification Society,’ the notice read. 

The flags of Eswatini started showing up this year, with ship broker Clarkson Research Services Ltd. reporting zero ships in 2023 registered under the Eswatini flag even as 26 such ships now sail the seas. 

Eswatini is a landlocked country in Southern Africa and has increasingly worked with Russia to transport oil as part of dodging sanctions. Bloomberg tracked the ownership of 18 Eswatini-flagged ships in ship-tracking data, finding that 16 had ‘unclear’ ownership, but that several tankers transported oil produced in Russia and Iran. 

The United States sanctioned three Eswatini ships for supporting the regime of Syrian President Bashar al-Assad and later helping export grain from Russian-occupied parts of Ukraine during the briefly brokered grain corridor, according to The Economist. 

A spokesman for the Eswatini ship registry told the outlet that the country delisted two of the ships for breaking the country’s administration guidelines of compliance, but one month later two of the ships continued to fly the Eswatini flag. The spokesman argued that once the country delists a ship, they stop following them, and any use of the flag is ‘illegal and invalid.’ 

The Atlantic Council think tank in January published a report on the growing Russian ‘dark fleet,’ estimating that 1,400 ships make up the fleet and operate in a ‘gray zone’ that makes it hard for countries to punish. 

The great concern, as both Koffler and the Atlantic Council noted, focuses on the poor condition of these ships since they operate illegally and do not want to raise suspicion from officials. 

The think tank called such ships ‘aging and poorly maintained,’ which has given rise to incidents that legitimate vessels end up having to pay for, since the shadow fleet lacks proper insurance.

That puts the burden on coastal nations, which are obligated under search-and-rescue convention to put in time and resources to help distressed illegal vessels without recourse. 

‘The potential harm to coastal states is tangible, but since the aggression doesn’t involve military, it means it’s virtually impossible for a country to avenge harm caused to it by a shadow vessel, even if it can prove the ship is transporting Russian cargo,’ Atlantic Council senior fellow Elisabeth Braw wrote. 

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Mars to acquire snack maker Kellanova in $36 billion deal
next post
A U.S. construction boom is sending rents lower and creating perks for renters

related articles

Hamas hands over hostage’s body to Israel as...

October 27, 2025

Shutdown crushes small business owners as losses hit...

October 27, 2025

Hamas says it will hand over another hostage...

October 27, 2025

Federal workers brace for missed paycheck as shutdown...

October 27, 2025

Trump courts Japan’s emperor and new PM before...

October 27, 2025

Newsom and Harris both position themselves as potential...

October 27, 2025

Virginia, New Jersey governor races could shift government...

October 27, 2025

Trump admin warns 42 million Americans could lose...

October 27, 2025

The Tomahawk factor: US long-range missiles are the...

October 27, 2025

Biden claims nation facing ‘dark days’ as he...

October 27, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • US-China trade talks and Washington’s decade-long effort to block China’s tech surge

    June 12, 2025
  • First female Mexico-born rep targets indictment-plagued Democrat in House GOP comeback bid

    April 15, 2025
  • House Freedom Caucus heading to White House after delay play on Trump’s ‘big, beautiful bill’

    May 21, 2025
  • After second meeting with Hegseth, Ernst hints at whether she will or won’t support confirmation

    December 10, 2024
  • Netanyahu confirms Israel strike against Iran hit nuke program during October retaliatory strikes

    November 18, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,562)
  • Investing (634)
  • Stock (945)

Latest Posts

  • Most Republicans support Trump ordered military strike on Iran’s nuclear program: poll

    June 24, 2025
  • Panama eliminates charge fees for U.S. government vessels to use the canal

    February 6, 2025
  • Zelenskyy seeks ‘strong reaction’ from US if Putin is not ready for bilateral meeting

    August 22, 2025

Recent Posts

  • Longtime Trump loyalist flips on GOP’s ‘big, beautiful bill’

    June 5, 2025
  • Trump bucks Biden’s ‘don’t’ doctrine on world stage, hits adversaries with ‘all hell to pay’ deadline

    December 3, 2024
  • NATO chief urges members to ‘turbocharge’ defense production as he paints picture of a world bound for war

    December 12, 2024

Editor’s Pick

  • Trump’s ‘big, beautiful bill’ hits another snag in House as conservative caucus raises red flag

    June 30, 2025
  • White House still committed to freezing ‘woke’ funds despite rescinding OMB memo

    January 29, 2025
  • DNC union launches GoFundMe to help former staffers hit by massive layoffs after election losses

    November 25, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock