Summary

European and US shipowners have sold at least 230 aging tankers to Russia’s “shadow fleet,” allowing it to evade sanctions and fund the Ukraine war, an investigation reveals.

Greek firms led the sales, with UK, German, and Norwegian companies also involved, collectively earning over £4.8bn.

Many tankers were reflagged and used to transport Russian oil despite sanctions. The EU and US have tightened regulations, sanctioning some vessels.

However, opposition from shipping-heavy nations like Greece has prevented an outright ban on such sales.