Fleet of tankers sailing under flags of convenience estimated to carry up to 85% of Russia’s oil exports

Calls to step up and coordinate the interdiction of the unflagged Russian “shadow fleet” of oil tankers in the Baltic Sea were made this weekend ahead of the EU foreign ministers meeting on Monday that is set to impose sanctions on 180 ships, taking the total number of ships sanctioned by the EU to 350.

The efforts to stop the fleet, estimated to be carrying as much as 85% of Russia’s oil exports and so funding roughly a third of Russia’s budget, is seen as a critical proof of the EU’s determination to keep the economic pressure on Russia.