Saturday, December 9, 2023

Russia Is Funding Its War With a ‘Shadow Fleet’


View in browser

Russia Is Funding Its War With a ‘Shadow Fleet’

Western sanctions on Russian oil aim to punish Moscow for its invasion of Ukraine, but they haven’t exactly worked as planned. Instead, they have fostered a lucrative business for scores of difficult-to-trace traders and shipping companies. Moscow’s monthly income from oil exports is greater now than before the war. Bloomberg Investigates set out to uncover the network of ships and intermediaries working to sell the Kremlin's oil while getting rich in the process. In doing so, we discovered Russia’s Shadow Fleet.

The failure of Western sanctions on Russian oil exports can be witnessed in international waters off the Greek coast, where two “shadow fleet” tankers transfer Russian oil. Photographer: Angus Bennett/Bloomberg

Current Time 0:04
Duration 24:01
Loaded: 0%
Progress: 0%
Bloomberg Investigates
Russia's Shadow Fleet