Photo: Depositphotos. The shadow fleet is known for its mystery and influence.
Russia is increasingly using its “shadow fleet” to transport oil and oil products in order to circumvent Western sanctions. According to the Defence Intelligence of Ukraine, as of March 2025, this fleet includes at least 387 tankers with a total deadweight of more than 57 million metric tonnes.
In 2024 alone, more than 60% of all Russian oil exports by sea were carried out by these vessels. This includes 78% of crude oil and 37% of petroleum products that were exported from Russia in circumvention of international restrictions. The total volume of such exports is estimated at over €80 billion, of which €57 billion is crude oil and another €26 billion is oil products.
This was reported by the GUR on 22 March, and an updated list of shadow fleet vessels was posted on the War&Sanctions portal, adding 35 more tankers and updating information on vessels that have recently changed their identities, owners and jurisdictions to avoid control.
The geography of shadows
According to intelligence, Russia continues to improve its scheme for circumventing sanctions. While previously the UAE, India, Seychelles and the Marshall Islands were among the countries of cover, the list now includes China (including Hong Kong) and even Russia as a jurisdiction for shipowner registration.
Another trend is the use of exotic flags. Among the new “convenient” flags: Comoros, Curacao, Djibouti, Guyana, Gambia, São Tomé and Príncipe, Tanzania. These countries, as a rule, do not cooperate with Western regulators, which allows operators to remain in the shadows.
Ship juggling
The list includes tankers associated with Fractal Marine Shipping, Gatik ShipManagement, Sun Ship Management and Hennesea Holdings Limited, all of which are registered in the UAE and India. Since 2022, these entities have been actively changing owners and ship documentation, using the so-called “ship-juggling” tactic to avoid tracking and liability.
Invisible threats
Most shadow fleet vessels deliberately turn off navigation systems, concealing their route and cargo, which poses a direct threat to the safety of international shipping. The practice of ship-to-shore transshipment (STS) of oil on the high seas is also widely used, making it difficult to control the origin of raw materials and often involving environmental risks.
According to the GUR, more than 90% of the tankers on this list do not have Western insurance. This means that in the event of an accident or oil spill, coastal states may be left without compensation.
The growth of the “shadow fleet” is evidence not only of the Kremlin’s desperate attempts to keep its energy exports afloat, but also of serious gaps in the global sanctions control system. For the international community, this is a wake-up call that the financial vein of Russian aggression has not yet been cut.
