tanker Boracay from Russia’s so-called “shadow fleet” off the coast of Saint-Nazaire, France, on Oct. 1, 2025.
Opinion

The one problem with Russia's shadow fleet Europe still hasn't addressed

by Ben Harris

Contrary to the rhetoric coming out of the Kremlin, the Russian economy is faltering. After years of growth propped up by military spending, Russia's economy slowed to a standstill in 2025. Unfortunately, the energy trade remains just strong enough to sustain Russian tax revenues: without the steady inflow of hard currency from energy exports, Russia would be unable to continue its murderous invasion of Ukraine. This dependence on energy exports is a vulnerability the West has never fully expl

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