What’s lurking in the shadow fleet?

What’s lurking in the shadow fleet?

February 4, 2026 · 17 min · Episode 185

About this episode

The episode discusses Russia's expansion of its shadow fleet of tankers to circumvent Western sanctions in the global oil trade.

Russia has rapidly expanded its “shadow fleet” of ageing, poorly regulated tankers to bypass Western sanctions, now accounting for a significant share of global seaborne oil trade.

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