How The Shadow Fleet Has Changed The Rules Of Maritime Finance Compliance
Since 2022, more than 230 ageing tankers worth roughly £5 billion were sold by US and European owners into what became Russia's shadow fleet. Regulators in Washington, London and Brussels have responded with firmer guidance, treating flag hopping, STS transfers and AIS masking as red flags. In July 2025, the UK's NCA and OFSI issued a joint Red Alert warning on shadow fleet sanctions evasion and avoidance networks.
Why it matters: This matters for the theme of sanctions, as it shows how regulatory expectations are shifting from counterparty identity to vessel behaviour.