**EU Prepares New Sanctions on Russia’s “Shadow Fleet“**
The European Union is planning a new round of sanctions against Russia’s “shadow fleet”. This group of older, often uninsured ships helps Russia evade international sanctions by shipping out oil.
According to Bloomberg, the EU wants to approve these new sanctions by the end of this year. The restrictions would likely punish individuals involved in the shadow fleet trade.
**Previous Sanctions**
The EU, UK, and US have previously targeted Russia’s shadow fleet with restrictions on individual tankers and shipping services. These sanctions were meant to cut Moscow‘s oil revenue and limit its ability to fund its war efforts in Ukraine.
Russia has invested $10 billion in expanding its shadow fleet since the price cap was imposed two years ago. The EU is now planning stronger measures against Russian liquefied natural gas (LNG).
**Symbolic Date**
If approved, these new sanctions could be adopted on February 24, 2025 – the third anniversary of Russia’s full-scale invasion of Ukraine.
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