Europe Tightens Controls on Russian Shadow Fleet

Ever since the U.S. introduced sanctions on Russian energy, Moscow has been transporting oil under the radar using clandestine techniques such as shadow fleets. Demand for Russian crude has risen from some countries as Putin has offered oil at highly discounted rates to maintain Russia’s export revenues. Countries such as China and India, who have so far ignored the U.S. sanctions, have been driving this demand. Now, there’s a plan to crack down on Russian shadow fleets to ensure that they cannot circumvent sanctions so easily. …