LONDON: There is “growing evidence” that Russia is using “shadow tanker fleets” to circumvent a Western oil price cap, a watchdog committee of British lawmakers warned on Wednesday.
Arguing Britain and its allies must maintain sanctions and military support for Ukraine for “as long as it takes,” the panel from parliament’s unelected upper House of Lords urged them to take “decisive action” over the issue.
It comes just over a year after the G7, European Union and Australia imposed the unprecedented price cap on Russian oil, hoping to starve President Vladimir Putin of much-needed revenue while ensuring he still supplied the global market.
Initially successful, the $60 per barrel price ceiling on Russian oil lost its impact once Moscow found new buyers and new tankers to deliver its exports.
Recent assessments show Moscow has reduced its dependence on Western shipping services and skirted the curb by building so-called shadow fleets of tankers and buying old ships while offering its own insurance services.
“We are concerned at the growing evidence that Russia has been able to circumvent sanctions, including through third states and uninsured shadow tanker fleets,” the Lords’ European Affairs Committee said in a new report.
“This is an issue where decisive action by the UK and its allies is needed,” it added, urging the government to detail “specific examples” of enforcement action.
Companies based in the EU, G7 member states and Australia are banned from providing services enabling maritime transport, such as insurance, of oil above that price.
But the Kyiv School of Economics (KSE) is the latest to highlight the extent to which Russia is now able to get around the mechanism.
In its December “Russian oil tracker” report released earlier this month, it estimated “179 loaded Russian shadow fleet tankers left Russian ports in November 2023.”
Around 70 percent of the vessels were built more than 15 years ago, it said.
In October 2023, the shadow fleet was responsible for exports of around 2.3 million barrels per day of crude oil and 800,000 million barrels per day of petroleum products, according to the KSE.
The Lords’ committee welcomed the Western sanctions regime imposed on Moscow since its invasion of Ukraine in early 2022, in particular that it had been “broadly aligned,” but warned against “divergence.”
“Divergence between sanctions regimes results in gaps and loopholes, weakening their effectiveness; it should be as limited as possible.”
UK lawmakers warn Russia skirting oil sanctions with ‘shadow’ tankers
https://arab.news/2uc3g
UK lawmakers warn Russia skirting oil sanctions with ‘shadow’ tankers
- Companies based in the EU, G7 member states and Australia are banned from providing services enabling maritime transport, such as insurance, of oil above that price
Pro-Greenland protesters mock Trump’s MAGA slogan with ‘Make America Go Away’ caps
- European governments are rallying behind Denmark, citing the need to defend Arctic regions and warning that threats against Greenland undermine Western security
COPENHAGEN, Denmark: Red baseball caps spoofing Donald Trump’s iconic MAGA hats have become a symbol of Danish and Greenlandic defiance against the US president’s threat to seize the frozen territory.
The caps reading “Make America Go Away” — parodying Trump’s “Make America Great Again” slogan — have gained popularity along with several variants on social media and at public protests, including a weekend demonstration held in freezing weather in the Danish capital.
European governments are rallying behind Denmark, citing the need to defend Arctic regions and warning that threats against Greenland undermine Western security.
Protesters, however, are less diplomatic.
“I want to show my support to Greenland and also show that I don’t like the president of the United States,” said 76-year-old Copenhagen resident Lars Hermansen, who wore one of the red caps at a protest Saturday.
The mock hats were created by Copenhagen vintage clothing store owner Jesper Rabe Tonnesen. Early batches flopped last year — until the Trump administration recently escalated its rhetoric over Greenland. Now there are popping up everywhere.
“When a delegation from America went up to Greenland, we started to realize this probably wasn’t a joke — it’s not reality TV, it’s actually reality,” said Tonnesen, 58. “So I said, OK, what can I do?” Can I communicate in a funny way with a good message and unite the Danes to show that Danish people support the people of Greenland?”
Demand suddenly surged from a trickle to selling out in the space of one weekend. Tonnesen said he has now ordered “several thousand.”
The original version designed by Tonnesen featured a play on words: “Nu det NUUK!” — a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital.
Protesters at Saturday’s rally waved red-and-white Danish and Greenlandic flags and carried handmade signs mocking US claims over the territory, which is slightly larger than Saudi Arabia.
“No Means No,” read one sign. Another declared, “Make America Smart Again.”
Wearing one of the spoof hats, protester Kristian Boye, 49, said the gathering in front of Copenhagen City Hall struck a lighthearted tone while delivering a serious message.
“I’m here to support the Greenlanders, who are going through a very hard time right now,” he said. “They are being threatened with having their country invaded. I think it’s totally unacceptable.”
