Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Estonia says Russia sent jet after attempt to stop sanction-breaking ship
    Finance

    Estonia says Russia sent jet after attempt to stop sanction-breaking ship

    Estonia says Russia sent jet after attempt to stop sanction-breaking ship

    Published by Global Banking and Finance Review

    Posted on May 15, 2025

    Featured image for article about Finance

    By Andrius Sytas and Sabine Siebold

    TALLINN/ANTALYA, Turkey (Reuters) -Estonia said on Thursday that Moscow had briefly sent a military jet into NATO airspace over the Baltic Sea during an attempt to stop a Russian-bound oil tanker thought to be part of a "shadow fleet" defying Western sanctions on Moscow.

    Russia, which regards sanctions as a malign attempt to crush its economy, says all its ships have free passage in the Baltic and any attempt to stop them is dangerous.

    Estonia's navy said the unflagged Jaguar ship, which went on a UK sanctions list last week, refused to cooperate when asked to stop and was then escorted to Russian waters.

    "The Russian Federation sent a fighter jet to check the situation, and this fighter jet violated NATO territory for close to one minute," Estonian Foreign Minister Margus Tsahkna told reporters in Turkey ahead of a meeting of foreign ministers from the transatlantic military alliance.

    "(The) Russian Federation is ready to protect the 'shadow fleet'... The situation is really serious," Tsahkna added.

    Western nations say Moscow is using a "shadow fleet" of more than 100 ships to dodge sanctions that President Vladimir Putin views as a part of a campaign to quash its global influence.

    Moscow sends millions of barrels of oil and fuel every day to buyers in China and India and has warned against any attempt to violate its vessels' freedom of movement.

    Finland accused Russia's ships of behaving recklessly in the area while Lithuania expressed fears of conflict.

    "The probability of a serious escalation in the Baltic Sea is growing," Lithuanian Prime Minister Gintautas Paluckas said. "Russia is clearly demonstrating that it is ready to protect the route for its oil. We need to act carefully and rationally, so that escalation does not turn in to a military clash."

    'FOLLOW MY INSTRUCTIONS'

    Estonia said NATO military jets had also taken off to inspect the Gabon-listed Jaguar.

    It was near Naissaar Island off the Estonian capital Tallinn when the navy communicated with it by radio on Tuesday afternoon, Commander Ivo Vark told Reuters in an email message.

    Given it was sailing "without a nationality", the navy sought to verify its documents and status, Vark said. But when it refused to cooperate and continued towards Russian waters, the navy opted to escort it there with a patrol boat.

    On Thursday, the Jaguar was anchored near the Russian port of Primorsk, Marine Traffic data showed.

    Footage on X purporting to be filmed from the bridge of the tanker shows an Estonian navy patrol ship, helicopter and aircraft nearby. An identification number seen in the video matches the Jaguar.

    "This is Estonian warship ... follow my instructions, alter your course to 105 immediately," a voice in English sounds over a radio.

    "We are met by helicopters, they demand we go on anchor," says another voice in Russian off-camera.

    Another voice, in Hindi, says: "The plane is on top of us. It's either an aircraft or a drone. The military ship is turning towards the stern of the vessel."

    A military jet, which Estonia does not operate, is also glimpsed flying nearby.

    On X, Margarita Simonyan, head of Russia's state media outlet RT, who posted the video, said the jet was a Russian Su-35, sent to prevent the vessel's seizure.

    In another incident on April 11, Estonia detained and boarded a Russia-bound oil tanker, Kiwala, accusing it of sailing without a valid country flag. The tanker was released two weeks later after Djibouti confirmed its registry.

    Kremlin aide Nikolai Patrushev told the Kommersant newspaper last month that Russia's navy was ready to protect its ships.

    "Hotheads in London or Brussels need to understand this clearly," he said, adding that Western efforts to block Russian ships were beginning to resemble a "naval blockade".

    It was unclear if Estonia acted at its own initiative or on request from NATO. Washington is pushing hard for a Russia-Ukraine peace deal with U.S. President Donald Trump saying he could rachet up sanctions if Moscow refuses to cooperate.

    (Reporting by Andrius Sytas in Tallinn and Sabine Siebold in Antalya;Additional reporting by Dmitry Zhdannikov in London, Supantha Mukherjee in Stockholm and Andrew Gray in Brussels;Writing by Andrius Sytas and Gwladys Fouche; Editing by Clarence Fernandez and Andrew Cawthorne)

    Related Posts
    Analysis-Consumer goods firms cut CEO tenures short in push for growth
    Analysis-Consumer goods firms cut CEO tenures short in push for growth
    BAE Systems halves stake in Kazakh carrier Air Astana
    BAE Systems halves stake in Kazakh carrier Air Astana
    Tesla ramps up battery cell investments at German gigafactory
    Tesla ramps up battery cell investments at German gigafactory
    Stellantis says EU proposals fall short on auto industry's energy transition needs
    Stellantis says EU proposals fall short on auto industry's energy transition needs
    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion
    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion
    US threatens countermeasures after EU fine on Musk's X
    US threatens countermeasures after EU fine on Musk's X
    EU drops 2035 combustion engine ban as global EV shift faces reset
    EU drops 2035 combustion engine ban as global EV shift faces reset
    Volkswagen welcomes EU move to drop combustion engine ban
    Volkswagen welcomes EU move to drop combustion engine ban
    Incoming Kraft Heinz CEO says he reserves right to improve split
    Incoming Kraft Heinz CEO says he reserves right to improve split
    FCAS fighter jet "very unlikely" after ministers' talks, source says
    FCAS fighter jet "very unlikely" after ministers' talks, source says
    Campari's parent company settles tax dispute with 405 million euro payment
    Campari's parent company settles tax dispute with 405 million euro payment
    Universal offers to sell Downtown's Curve to win EU approval, source says
    Universal offers to sell Downtown's Curve to win EU approval, source says

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Finance PostMorning Bid: As euphoria ebbs, Powell on deck
    Next Finance PostBOJ to pause rate hikes through September amid Trump uncertainty: Reuters poll

    More from Finance

    Explore more articles in the Finance category

    Reactions to European Commission proposal to reverse 2035 combustion engine ban

    Reactions to European Commission proposal to reverse 2035 combustion engine ban

    Italy's offshore wind push languishes, putting climate goals at risk

    Italy's offshore wind push languishes, putting climate goals at risk

    New Rome metro stations showcase ancient treasures after years of delays

    New Rome metro stations showcase ancient treasures after years of delays

    Exclusive-California Pizza Kitchen reaches buyout deal, names new leadership

    Exclusive-California Pizza Kitchen reaches buyout deal, names new leadership

    Greeks protest against low wages ahead of 2026 budget vote

    Greeks protest against low wages ahead of 2026 budget vote

    AI boom seen lifting chipmaking equipment sales 9% to $126 billion in 2026

    AI boom seen lifting chipmaking equipment sales 9% to $126 billion in 2026

    New Czech government signals tough stance on migration, EU emissions rules

    New Czech government signals tough stance on migration, EU emissions rules

    Exclusive-Swiss firm Barry Callebaut eyes separating cocoa division amid price volatility, sources say

    Exclusive-Swiss firm Barry Callebaut eyes separating cocoa division amid price volatility, sources say

    Zaporizhzhia nuclear plant running on single power line, Russia says

    Zaporizhzhia nuclear plant running on single power line, Russia says

    EU talks to fund Ukraine with Russian assets make progress, key decisions seen Thursday

    EU talks to fund Ukraine with Russian assets make progress, key decisions seen Thursday

    Shell greenlights US Gulf waterflood project to boost oil recovery

    Shell greenlights US Gulf waterflood project to boost oil recovery

    Saudi firm Midad among frontrunners to buy Lukoil's global assets, sources say

    Saudi firm Midad among frontrunners to buy Lukoil's global assets, sources say

    View All Finance Posts