Russia’s “shadow fleet” grows again, helping the Kremlin bypass sanctions. The number of Moscow's oil tankers continues to expand, ensuring deliveries of Russian oil despite Western sanctions, Reuters reports.
Russian oil remains a key source of revenue that funds its military aggression against Ukraine. In 2025, profits from the oil and gas sector account for about 77.7% of Russia’s federal budget.
The Russian "shadow fleet" consists of grey-market tankers that evade international sanctions. These tankers often sail with transponders turned off, without proper insurance, and conceal their identities. They channel Russian oil exports to China, India, and Global South countries.
About 70% of the shadow fleet that transports Russian oil passes through the Baltic Sea.
Shadow fleet keeps Russia's oil exports afloat
Saad Rahim, chief economist at major trading house Trafigura, says that these tankers have become a key instrument in the Kremlin’s hands. These vessels allow Moscow to maintain revenues from crude oil sales despite Western efforts to restrict exports.
"As there are more sanctions and restrictions, the size of the (shadow fleet) has grown even larger," Rahim emphasized.
New vessels replace sanctioned ones
According to the expert, in 2025 the growth of the “shadow fleet” has slowed somewhat, but it continues to expand. Often, new tankers replace those that end up on the “blacklist.” This enables Russia to keep its export channels open and avoid significant losses from sanctions.
The US cuts production, price steady at $60
Rahim also stressed that US tariffs have so far had limited impact on the global economy and fuel demand. American oil companies base their budgets on a $60 per barrel price, which is considered the break-even level. At the same time, the number of oil rigs in the country is declining, while production has stabilized at the current level.
