Russia’s oil tanker “shadow fleet” is facing intensified pressure as Barbados and Panama are set to de-list 114 vessels from their maritime registries, Bloomberg reports.
As informed, Barbados will de-list 46 vessels by the end of January 2025, with 14 also under US sanctions, while Panama has already begun removing 68 vessels sanctioned by the US. Both actions follow new sweeping sanctions on Russian exports introduced earlier in January 2025.
Russia’s shadow fleet, integral to transporting oil and gas, has repeatedly shifted flags and service providers since the invasion of Ukraine in 2022, revealing the sanctions’ disruptive impact on its logistics and revenue streams.
According to Bloomberg, while some of the de-listed vessels have found new flags, including Tanzania and São Tomé and Príncipe, the forced reliance on lesser-known nations for registration reflects Russia’s diminishing access to reputable maritime services like those of Barbados.
In December 2024, the Panama Maritime Authority (AMP) had already initiated the process of expedited cancellation of six Panamanian vessels included in the United Kingdom (UK) Sanctions List.