A recent investigation has revealed that over 50 vessels tied to Russia’s “shadow fleet” are registered with companies based in Dubai. This discovery follows an incident where the vessel Eagle S, which is suspected of damaging the Estlink 2 power cable between Finland and Estonia, was found to be owned by a Dubai-based firm. The findings indicate that Dubai is playing a significant role in Russia’s efforts to circumvent international sanctions.
The investigation, conducted by Finnish broadcaster Yle, uncovered that the Eagle S is just one of many vessels operating under the radar in the “shadow fleet.” This fleet, which is used to evade sanctions, has grown to include more than 50 ships owned by Dubai-based companies. These vessels are part of a larger network designed to bypass restrictions placed on Russia due to its actions in Ukraine.
Yle’s investigation also looked into 149 other vessels associated with the shadow fleet. They found that a significant portion of these ships had undergone changes aimed at concealing their ownership. Around one-third of the vessels had their names altered within a month of sanctions being imposed. Additionally, a similar number of ships had their ownership or management companies changed. Over 20% of these ships also changed their country of registration, a typical tactic to obscure the real owners and operators.
The investigation highlighted that this practice of shifting ownership and re-registering vessels is common, making it difficult to trace the actual owners behind the vessels. Besides Dubai, companies in India, China, Russia, and several small island nations are also involved, further complicating efforts to enforce sanctions.
In total, Russia is using over 1,000 vessels to circumvent sanctions, representing around 17% of the world’s oil tanker fleet. This network of ships has reportedly brought in more revenue for Russia than the total amount of international aid received by Ukraine since the war began.
