#Western shipowners received more than $6 billion by selling old oil tankers to a shadow fleet transporting #Russian oil - #Follow_the_Money investigation
The platform, together with an international team of 40 investigative reporters from nine countries and the independent research institute #Kyiv School of Economics (#KSE), found that at least 230 vessels have been sold by owners from #Europe and the #US into the shadow fleet and with that help the #Kremlin maintains its crucial oil revenue
despite #Western sanctions. Most of them are sold by #Greek owners, followed by #British and #German owners.
Currently, the #KSE estimates that a shadow fleet of over 600 tankers is shipping 70% of all #Russian oil exports. Almost all of them, on paper, are not owned by #Russians - instead, they're registered with companies in #India, the #Seychelles, #Hong_Kong, or #Vietnam. Selling to these third countries is not illegal.
A ship broker, who requested anonymity because of the sensitivity of the discussions, said the sale of used ships by the #Western shipowners (who usually don't know where the ship will end up) ultimately came down to profits.
"An investor is only interested in one thing, and that is money. I think the ethical line is very thin. If it's allowed, they'll do it," the broker said.
Source: https://www.ftm.eu/articles/who-is-behind-the-russian-shadow-fleet
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