EU seeks maritime declaration to inspect Russia's 'shadow fleet'
Published by Global Banking and Finance Review
Posted on October 19, 2025
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.
Published by Global Banking and Finance Review
Posted on October 19, 2025
BRUSSELS (Reuters) -The European Union's diplomatic arm, the EEAS, is urging member states to back a maritime declaration that would allow EU nations working with flag states to arrange inspections on Russia's "shadow fleet" of oil tankers, an EEAS document shows.
Beefing up inspection rights is the latest EU proposal aimed at curbing Russian oil and gas revenue being used by Moscow to finance the Ukraine war. EU foreign ministers are due to meet on Monday to discuss new measures against Russia, among other topics.
In early October, the Group of Seven industrialised economies (G7) agreed to work jointly towards this goal and target countries that help Moscow circumvent sanctions as well as those that have increased Russian oil imports.
"EU Member States increasingly demonstrate a renewed momentum for more robust enforcement actions tackling the shadow fleet (for example, France's action against the Boracay vessel, previous actions by Estonia on Kiwala, Germany on Eventin and Finland on Eagle S)," the EEAS background paper said.
It said the draft declaration proposes "possible bilateral agreements between the flag states and the EU on pre-authorised boardings for inspections," adding that an increase in fake flag registrations also needed tackling.
The EEAS said estimates put the shadow fleet at anywhere between 600 and 1,400, with Brussels sanctioning more than 400 ships as well as entities that enable the fleet to operate.
Once the EU adopts the 19th package of sanctions - likely within the next week - that figure will rise to about 560 vessels and bring forward a ban on Russian liquefied natural gas (LNG) imports by a year to Jan. 1, 2027. The EEAS said the bloc will also target tanker re-fuelling services, so-called bunkering.
(Reporting by Julia Payne and Jan Strupczewski;Editing by Helen Popper)