US Considers New Sanctions on Russia's Shadow Oil Fleet Amid Ukraine Ceasefire Deadline

The Biden administration is evaluating the implementation of additional sanctions targeting Russia's covert maritime oil transportation network, known as the "shadow fleet," contingent upon Vladimir Putin's response to a proposed ceasefire in Ukraine by the upcoming Friday. Key officials within the White House view this crackdown as an effective measure to exert increased pressure on Moscow. While discussions of broader sanctions are ongoing, prioritizing actions against these clandestine vessels remains a central focus. Russia's shadow fleet plays a pivotal role in evading Western-imposed restrictions, especially the G7-led price cap on seaborne oil exports. By utilizing these unregulated vessels, Russia continues to generate significant income from energy sales, sustaining its military efforts in Ukraine. Despite a decline in piped natural gas exports, Russia has boosted seaborne liquefied natural gas shipments to Europe. Many vessels involved are Russian-built and operate without Western insurance, registration, or maritime support, complicating enforcement of existing sanctions. This potential move by the US comes amid recent Russian advances in the strategic city of Pokrov...