Benjamin Jensen
Recent revelations that Moscow’s “ghost fleet” of oil tankers is loaded with spy gear and prone to undersea cable cutting indicate a pressing need to counter the Kremlin’s sabotage campaign in a manner that further undermines Russia’s wartime economy. For too long, the United States and Europe have turned a blind eye, relying on often late and feckless sanctions to counter Moscow’s illicit economic lifeline. The new Trump administration must target this ghost fleet with more than sanctions as part of its larger plan to bring Moscow to the negotiating table.
Russia’s Ghost Fleet Explained
Russia’s ghost fleet has become a pivotal instrument in sustaining its oil exports in defiance of Western sanctions. By mid-2024, this clandestine armada was responsible for transporting over 70 percent of Russia’s oil and its by-products, effectively undermining the imposed price cap. The fleet comprises more than 400 crude carriers and approximately 200 oil product carriers, representing about 20 percent of the world’s crude vessel fleet and 7 percent of oil product tankers. The revenue generated through these covert operations is substantial. In the first half of 2024, Russia’s oil and gas revenues surged by 41 percent, indicating the fleet’s significant role in financing the Kremlin’s endeavors.
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