Published by Global Banking & Finance Review®
Posted on February 17, 2026
1 min readLast updated: February 17, 2026
Add as preferred source on GoogleThe GRINCH tanker, suspected of breaching sanctions, was released by France after a hefty fine, underscoring the challenges of Russia's shadow fleet.
MARSEILLE, France, Feb 17 (Reuters) - French authorities have let the seized oil tanker GRINCH leave territorial waters after the company owning the vessel had to pay a penalty worth "several million euros," French Foreign Minister Jean-Noel Barrot said on Tuesday.
"Circumventing European sanctions comes at a price. Russia will no longer be able to finance its war with impunity through a ghost fleet off our coasts," Barrot said in a post on X.
The vessel named GRINCH was seized in the Mediterranean on last month, and then diverted to anchor off the French port city of Marseille, on suspicion of being part of the shadow fleet that lets Russia export oil despite sanctions.
The vessel had left the Russian port of Murmansk in early January, sailing under a Comoros flag, French authorities have said.
The company owning the ship was ordered to pay a penalty for not being able to justify its flag, French authorities added in a statement.
(Reporting by Marc Leras and Inti Landauro;Editing by Sudip Kar-Gupta)
A shadow fleet refers to a group of vessels that operate under the radar, often to circumvent sanctions or regulations, allowing countries to continue trade despite restrictions.
International sanctions are penalties imposed by countries or international organizations to influence or punish a nation, often in response to violations of international law or human rights.
Oil tanker seizure is the act of detaining a vessel transporting oil, typically due to legal or regulatory violations, such as breaching sanctions or operating without proper documentation.
A penalty in financial terms refers to a monetary charge imposed for violating laws or regulations, often as a deterrent against non-compliance.
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