Russian Oil Tankers Look For New Flags To Evade Latest Sanctions

A part of the Russian oil tanker fleet has to change the flags under which they sail, given the latest U.S and U.K. sanctions which have put pressure on the Russian shipping network.

The ship registry of Barbados has mentioned that by this month’s end, it has asked 46 vessels to remove their flag due to sanctions imposed by the U.K. 14 of these ships are also sanctioned by the United States.

The Panamanian Ship registry also mentioned that it had started delisting 68 ships that the United States sanctioned. This is because Panama passed a rule in 2024 that aligned it with the U.S, U.K and E.U sanctions.

Although these ships will most likely find new flags, most vessels serving Russia have had to switch to unusual service providers.

The latest move shows the most sweeping sanctions on Russian exports to date, which were put in place to stop Russia from gaining revenue that keeps its war machinery running.

Sailing under the Barbados Flag was an achievement for Russian shipping as it is one of the most reputable nations for ship registration in the world.

Flag states play a vital role in ensuring maritime safety standards and Russia has had to turn to less-well-known countries in the industry.

Giovanni Ciniglio, the chief executive officer of the London-based Barbados Maritime Ship Registry stated that the country has no sanctions against Russia but follows the regulations of the U.K due to the amicable relationship between the two countries.

Barbados won’t remove ships sailing under its flag that the U.S has sanctioned unless the U.K also sanctions them.

Some of the Barbados vessels have re-registered with other countries like Tanzania, Principe, and Sao Tome, per the Equasis marine database.

References: Bloomberg, Pravda

Source: Maritime Shipping News