HeadlinesBriefing favicon HeadlinesBriefing.com

Sweden Pressures EU Allies to Intercept Russian Sanctioned Oil Tankers

Financial Times Markets •
×

Sweden is pressing European allies to take action against Russia's "shadow fleet" of oil tankers that evade Western sanctions. Foreign Minister Maria Malmer Stenergard warned that gaps in enforcement are allowing these vessels to sustain the Kremlin's most important revenue stream.

Russia has assembled roughly 700 aging tankers that operate without recognized insurance, fly third-country flags, and regularly shut off location transponders. These ships transport approximately 75% of Russia's sanctioned oil exports, with tankers departing from Primorsk and Novorossiysk passing through EU waters including Denmark and Greece.

While Sweden, France, Belgium and the UK have intercepted suspicious vessels, other European nations continue allowing free passage. Stenergard emphasized that the shadow fleet directly funds weapons striking Ukraine, calling action against it "not optional" for ending the war.

EU foreign ministers convene in Luxembourg to discuss new sanctions targeting Russian oil exports. Researchers at Bruegel warn that Europe's oil price shock could soon become a supply crisis as reserves dwindle amid the shadow fleet's continued operations.