EU Allows Member States to Sell Oil Seized from Russian 'Shadow Fleet' Tankers
The European Union, as part of its 21st sanctions package against Russia, has authorized member states to sell Russian oil and petroleum products seized from tankers of Russia's so-called 'shadow fleet'.
The European Union has allowed its member states to sell Russian oil and petroleum products confiscated from tankers belonging to Russia's 'shadow fleet' under the 21st sanctions package against Russia. According to a European official in Brussels, as reported by Euractiv, seizures of oil products from detained tankers are frequent, but the question was what to do with the 'very valuable' cargo. The new rules also permit the sale of grain transported by such tankers.
The 21st sanctions package was agreed upon on July 23. The sanctions target an additional 41 shadow fleet vessels, as well as eight organizations and one individual linked to shadow fleet activities. For the first time, a crew recruitment agency for shadow fleet ships has been sanctioned. Russian shadow fleet tankers transport oil at prices exceeding the established price cap.
