Moscow cries 'piracy' as EU ramps up action against Moscow's sanctions-busting shadow fleet
The EU will allow capitals to sell Russian oil seized from vessels attempting to evade the bloc’s sanctions, in its latest effort to ramp up economic pressure on the Kremlin.
European Commission officials confirmed on Thursday, shortly after an agreement among EU diplomats, that a fresh round of sanctions against Moscow would include a provision to allow member states to sell crude oil and other commodities seized from Russia’s ‘shadow fleet’ of tankers, which it is using to evade a G7 oil price cap.
The “very important provision” would allow “member states to confiscate the commodities transported by this shadow fleet once they’ve been boarded … in a naval operation,” one EU official said.
Such seizures were taking place more and more frequently, the official added while briefing reporters in Brussels. “The issue was what to do with the cargo and the commodities,” they said. “This is very valuable, as you can imagine.”
