EU Sanctions Net 342 Ships in Russia's 'Ghost Fleet' Oil Scheme

The European Union has imposed its 17th sanctions package against Russia, targeting its 'ghost fleet' of old oil tankers used to circumvent sanctions and continue exporting oil. This follows the 2022 invasion of Ukraine, which prompted the EU, G7, and Australia to ban Russian oil imports. According to the video, approximately 342 vessels are now prohibited from accessing European ports or participating in commercial operations. Investigative journalist Nathaniel Peutherer, from Follow the Money, sheds light on this practice, stating that Russia has resorted to methods used by Iran and Venezuela, acquiring old ships destined for scrapping and repurposing them for oil transport. The video reveals that British, German, and Greek companies have profited from this, making millions of dollars. Despite the sellers claiming ignorance of the ships' intended use, Russia has ultimately benefited, generating over $800 billion from these clandestine exports. This highlights the challenges in enforcing sanctions and the lengths to which countries will go to circumvent them. The sanctions demonstrate a continued international effort to pressure Russia over its actions in Ukraine.