The “shadow fleet” created to supply oil from Russia, consisting of outdated and insured tankers, poses a danger to the environment and creates the risk of a large-scale oil spill. According to RBC with reference to the Financial Times, this was stated by Rolf Tore Roppestad, executive director of one of the largest tanker insurance companies Gard.
The newspaper recalls that since the beginning of the Russian military operation, “several thousand” tankers have appeared on the market, which operate without insurance for members of the International Group of Mutual Insurance Clubs. The group consists mainly of European and American insurers, including Gard, which previously covered up to 90% of the world’s shipping.
According to Roppestad, the “shadow fleet” being created to supply Russian oil is not accountable to Western structures and poses a danger to the environment. “This is a social and environmental catastrophe waiting in the wings, and it should be of great concern to all of us,” said the head of the Gard.
He added that the risk of a possible environmental catastrophe will only increase, as more and more ships cease to be responsible for a possible fuel spill after the accident and its consequences. In his opinion, smaller insurers may not be able to cope with the consequences of such spills.
After the start of the Russian special operation in Ukraine, Western countries banned ships under the Russian flag from entering their ports, and also banned the sea export of Russian-made oil. At the same time, the EU and Britain have banned insuring, financing and providing vessels for the transport of Russian oil, except in cases where the cost of supplies is below the limit set at $60 per barrel. Russia, in response, banned the sale of oil to those individuals and organizations whose contracts include a price limit.
Supplies of oil and oil products from Russia to the G7 countries and the EU in 2021 amounted to 214.7 million tons for a total of $109.5 billion. This is 68-70% of the total export of these goods to the world market.
Bloomberg wrote about the creation of a “shadow fleet” by Russia at the end of October. Experts interviewed by the agency pointed to an increased number of ship purchases by unnamed buyers. According to the Braemer analytical company, Russia has purchased 240 large and small vessels, which last year were engaged in the export of Iranian and Venezuelan oil. FT reported about a hundred tankers of the Russian “shadow fleet”.
Source: Rosbalt
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