Sanctions

European Parliament calls for crackdown on Russia ’shadow fleet’

MEPs call for more targeted measures against these vessels in the next EU sanctions packages, including all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies.

Published

2 years ago

November 18, 2024

Admin

Members of the European Parliament (MEPs) on Thursday (14 November) demanded more targeted EU sanctions against Russia’s so-called ‘shadow fleet’, which provides a key financial lifeline for Moscow’s war in Ukraine.

Russia uses old tankers, often uninsured and with unclear ownership, to export its crude oil and petroleum products abroad, despite EU, G7 and international sanctions.

In a statement, the MEPs said these activities have also raised fears over the risk of environmental disasters, including severe oil spills. As part of systematic efforts to undermine EU restrictive measures, the ‘shadow fleet’ provides a key financial lifeline for Russia in its illegal and unjustifiable war of aggression against Ukraine.

In a resolution adopted on Thursday, the European Parliament calls for more targeted measures against these vessels in the next EU sanctions packages, including all individual ships as well as their owners, operators, managers, accounts, banks and insurance companies.

It also demands the systematic sanctioning of vessels sailing through EU waters without known insurance and urges the EU to enhance its surveillance capabilities, especially drone and satellite monitoring, and to conduct targeted inspections at sea. MEPs want EU member states to designate ports capable of handling sanctioned vessels carrying crude oil and Liquified Natural Gas (LNG) and to seize illegal cargo without compensation.

The resolution further calls on G7 countries to better enforce the price cap imposed on Russian seaborne oil, to substantially decrease the oil price cap and to crack down on the loopholes used by Russia to repackage and sell its oil and oil products at market prices.

Stressing that the impact of existing sanctions and the financial and military support to Ukraine will continue to be undermined as long as the EU imports Russian fossil fuels, the MEPs urge the EU and its member states to ban all imports of Russian fossil fuels, including LNG.

Pointing towards the need for much stricter enforcement of current EU sanctions, the text also states that the EU should seriously reassess its bilateral cooperation with third countries that are helping Russia circumvent EU restrictive measures in place, if diplomatic efforts are unsuccessful.

Photo credit: Guillaume Périgois on Unsplash
Published: 18 November, 2024

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Sanctions

US reinstates Iran oil sanctions, orders wind-down by 17 July

US has revoked a licence permitting the purchase of Iranian crude oil, petrochemical products and petroleum products, with the restrictions taking effect immediately.

Published

2 weeks ago

July 8, 2026

Admin

The US Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday (7 July) revoked a licence that had temporarily authorised transactions involving crude oil, petrochemical products and petroleum products of Iranian origin.

Under the new licence, the purchase of Iranian crude oil, petrochemical products and petroleum products is prohibited with immediate effect.

The latest licence replaces an authorisation issued on 22 June, which had been scheduled to remain in force until 21 August. The previous authorisation permitted the bunkering of vessels engaged in the approved transactions.

Parties that entered into contracts for Iranian oil during the period in which the authorisation was in effect have until 17 July to wind down Iran-related transactions.

Photo credit: Zbynek Burival on Unsplash
Published: 8 July, 2026

Incident

UK forces intercept suspected Russian shadow fleet tanker in English Channel

In the first UK-led operation of its kind, the vessel “SMYRTOS” was boarded by Royal Marine Commandos and law enforcement officers from the National Crime Agency.

Published

1 month ago

June 16, 2026

Admin

UK forces intercept suspected Russian shadow fleet tanker in English Channel

British Armed Forces on Sunday (14 June) boarded a sanctioned oil tanker, suspected of being part of the Russian shadow fleet, in the English Channel, according to the Ministry of Defence.

In the first UK-led operation of its kind, the vessel SMYRTOS was boarded by Royal Marine Commandos and law enforcement officers from the National Crime Agency.

The UK’s Prime Minister agreed in March that British Armed Forces and law enforcement officers were able to board shadow fleet vessels, in accordance with international law.

The SMYRTOS will be provisionally moved to an anchorage off the South Coast of England and will be monitored for any environmental or safety concerns.

UK’s Prime Minister Keir Starmer, said: “This operation delivers yet another blow to Russia and reminds those fueling Putin’s war in Ukraine that they cannot hide.

“I want to pay tribute to all those involved, including our Armed Forces and law enforcement officers who keep this country safe 24 hours a day, 365 days a year.”

The operation builds on recent support provided by the UK to its allies to interdict shadow fleet vessels, which included RAF and Royal Navy capabilities supporting US and French operations. The operation was conducted in close coordination with the French.

The UK has sanctioned almost 600 Russian shadow fleet vessels to date.

Photo credit: Ministry of Defence
Published: 16 June, 2026

Winding up

Singapore: LNG Alpha Shipping Pte Ltd and related companies to be wound up voluntarily

In 2024, the US reportedly imposed sanctions on LNG Gamma Shipping, LNG Delta Shipping, LNG Beta Shipping and LNG Alpha Shipping for their alleged links to Russian LNG producer Novatek.

Published

2 months ago

May 21, 2026

Admin

Several notices in the Government Gazette were published by the Director of LNG Alpha Shipping Pte Ltd and related companies on Wednesday (20 May), regarding some resolutions that were passed in relation to the winding up of the companies.

The other companies are LNG Delta Shipping Pte Ltd, LNG Beta Shipping Pte Ltd and LNG Gamma Shipping Pte Ltd.

The following resolutions were duly passed during an Extraordinary General Meeting for the companies:

AS SPECIAL RESOLUTIONS

Resolved:

That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018, and that Mr Lum Chi Lup Benny of 190 Middle Road, #17-05 Fortune Centre, Singapore 188979, be and is hereby appointed as Liquidator for the purpose of such winding-up.
That the Liquidator be and is hereby authorised (when and as soon as the debts and liabilities of the Company have been paid and satisfied or duly provided for) to distribute the assets in specie or kind among the contributories of the Company in accordance with their respective rights and interests.
That the Liquidator of the Company be and is hereby authorised to exercise any of the powers given by Sections 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

AS ORDINARY RESOLUTIONS

Resolved:

That the Liquidator, Mr Lum Chi Lup Benny be remunerated for the work of winding-up the Company on his normal scale of fees and that the Liquidator be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by him in the execution and discharge of his duties in relation thereto.
That pursuant to Section 195(2) of the Insolvency, Restructuring and Dissolution Act 2018, the books, accounts and documents of the Company and those of the Liquidator shall be retained for a period of 5 years after the dissolution of the Company and, at the expiration of that period, the documents may be destroyed.

In 2024, it was reported that all four Singapore-based LNG shipping companies were sanctioned by the US for their links to the Russian LNG producer Novatek. They are all majority-owned by New Transhipment FZE, a Novatek subsidiary based in the United Arab Emirates.

Photo credit: Benjamin Child
Published: 21 May, 2026