• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Mideast oil powerhouse bans Russian ‘shadow fleet’ vessels that seek to undermine sanctions
Economy

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

by August 14, 2024
by August 14, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Biden official gets heated in clash with reporter who asks if US has escalated Gaza war with Red Sea presence
  • Mississippi Gov. Reeves vetoes 2 bills on health insurance
  • Biden’s China strategy ‘detrimental’ as ‘international system is breaking down,’ experts say
  • California officials investigating migrant arrivals in Sacramento: ‘Without any advance warning’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
How ADX Stage Analysis Can Make You a BETTER Trader!
next post
Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era

You may also like

AIER Leading Indicators Index Posts Sixth Consecutive Month Below Neutral

December 14, 2022

Pence defends actions when confronted by Trump supporter over Jan....

July 7, 2023

When it gets serious: Biden, Congress poised to square off...

March 15, 2023

Trump-backed GOP congresswoman survives challenge from right in deep-red New...

June 26, 2024

Tuberville forces Schumer’s hand in military nominee votes: ‘He blinked’

September 22, 2023

McDonald’s Stock Eyes Q3 Report Amid E. Coli Crisis

October 29, 2024

Speaker Johnson talks 2024 with Trump at Mar-a-Lago as Haley...

February 21, 2024

Senator calls for probe after one of Hunter Biden’s lawyers...

July 29, 2023

WATCH: GOP voters rally around Trump following Jan. 6 charges

August 6, 2023

Chris Christie slams RNC over ‘useless’ presidential nominee pledge

June 19, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trump denies report claiming Nikki Haley...

    May 12, 2024

    Trump picks up another big-name endorsement...

    September 9, 2023

    Hunter Biden says staying sober crucial...

    February 26, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here