• 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

Time for Israel to take out ‘head of...

June 14, 2025

Israeli official vows ‘We have more surprises coming...

June 14, 2025

‘All-in’: GOP lawmakers divided on US involvement as...

June 14, 2025

Democratic lawmakers criticize Israel’s defensive strikes against Iran’s...

June 13, 2025

Nearly half of Americans back Israeli airstrikes on...

June 13, 2025

Biden-appointed judge thwarts Trump’s attempt to clean house...

June 13, 2025

Israel’s drone strikes in Iran show why US...

June 13, 2025

Could the US be targeted as Iran retaliates...

June 13, 2025

Iran threatens to hit US bases in the...

June 13, 2025

McCaul says Israel strikes are ‘perfect opportunity’ for...

June 13, 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

  • Alibaba shares surge 11% in Hong Kong as strong earnings fuel China’s e-commerce rebound

    February 21, 2025
  • Gold and silver: gold again this morning above $2400

    July 29, 2024
  • The price of Bitcoin rose to a new high this morning

    July 22, 2024
  • Vance dismisses polls that show Harris ahead: ‘Wildly inaccurate’

    August 18, 2024
  • Six House Dems vote with GOP to condemn Kamala Harris for ‘border czar’ role

    July 25, 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

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

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

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

    July 19, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,943)
  • Investing (634)
  • Stock (798)

Latest Posts

  • Oil advocates ‘skeptical’ of Harris pivot on fracking, but say her shift shows stance is a ‘winning issue’

    September 23, 2024
  • LIZ PEEK: Democrats are squealing over latest Trump plan to cut wasteful spending for one reason

    March 11, 2025
  • French right-wing leader Marine Le Pen found guilty of embezzling public funds, barred from running for office

    March 31, 2025

Recent Posts

  • Starbucks union votes to authorize strike ahead of last scheduled bargaining session in 2024

    December 18, 2024
  • Trump taps former acting AG Matthew Whitaker as NATO ambassador

    November 20, 2024
  • Trump picks Billy Long to head IRS, Kelly Loeffler to lead SBA and Frank Bisignano to lead SSA

    December 5, 2024

Editor’s Pick

  • Democrats advance 5 more Biden judicial nominees

    November 21, 2024
  • Biden says he’s leaving Trump ‘strong hand to play,’ defends his record on Afghanistan

    January 13, 2025
  • SafeMoon and Litecoin: LItecoin in sideways consolidation

    August 20, 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