20,000 people chose to be part of the Kyiv Independent community — thank you.

Skip to content
Photo for illustrative purposes. The Russian oil tanker Crius waits for a cargo of oil in Ceuta, Spain, on March 5, 2023. (Antonio Sempere/Europa Press via Getty Images)
This audio is created with AI assistance

The European Union is preparing a new round of sanctions targeting Russia's "shadow fleet," Bloomberg reported on Nov. 14, citing people familiar with the plans.

Russia's shadow fleet is a group of older and often uninsured vessels used to ship out Russian oil while avoiding international sanctions imposed in 2022 as part of the effort to cut Moscow's fossil fuel revenue.

EU member nations hope to approve the sanctions package by the end of the year, Bloomberg reported. The new restrictions would likely include penalties for individuals involved in the shadow fleet trade.

The details of the package are still being negotiated, sources said, and the final version will require unanimous approval from all 27 member states.

According to Bloomberg, some members hope the sanctions will include stronger measures against Russian liquefied natural gas (LNG).

The EU, U.K., and U.S. have targeted Russia's shadow fleet in previous rounds of sanctions, applying restrictions to individual tankers and shipping services.

The shadow fleet helps Russia successfully evade the West's attempts to stifle its oil profits via the $60-per-barrel price cap imposed two years ago. The Group of Seven (G7) unveiled the cap in late 2022, hoping to limit the revenues that feed Russia's war machine in Ukraine.

According to a report from the Kyiv School of Economics (KSE) Insititute published in October, Russia has invested $10 billion in expanding its shadow fleet since the price cap was imposed in 2022.

If the EU is able to approve the new package by the end of the year, it could adopt the sanctions by the symbolic date of Feb. 24, 2025 — the third anniversary of Russia's full-scale invasion of Ukraine.

Ukraine war latest: Ukraine repels Russian attempt to enter Kupiansk, military says
Key developments on Nov. 14: * Ukraine repels Russian attempt to enter Kupiansk in Kharkiv Oblast, military says * Defense Ministry pledges to draft bill on demobilization by Dec. 18, official says * European officials opening up to ‘land-for-security’ deal in Ukraine, WP reports * Trump’s nomi…

Independent journalism needs a community —
not a paywall.

We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.

More than 20,000 people chose to stand behind us. We’re deeply grateful and overwhelmed with your support. Thank you for making it possible.

Let´s see how far we can go?

News Feed

8:42 PM

Egyptian POW didn't need money, but went to fight for Russia.

Egyptian-born Russian fighter, callsign "Cobra," signed a contract with the Russian army in 2024, abandoning his young wife, university studies and comfortable lifestyle. Now in Ukrainian prison, he's rethinking his choices. Subscribe to our channel for more independent reporting from Ukraine.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.