Old and broken ships are sailing in European seas, laden with oil, without sufficient insurance to cover potential disasters. European countries and the United States are aware of Russia's use of a secret fleet to transport oil.
According to joint investigations by the Financial Times and Danish group Danwatch, about 140 ships from this “ghost fleet” may have sailed through European waters since the end of 2023.
The documents reveal that Russian ships, which evade Western sanctions, rely on insurance with clauses that make claims practically impossible. However, Ingostrakh, a Moscow-based insurer, offers coverage with a “penalty exclusion clause,” making most claims in the event of a catastrophe infeasible, The Economista says.
Lloyd's analyst Michelle Wies-Bockman warns of serious environmental and security risks, especially on international routes where Russian oil is transported, such as Danish waters and the English Channel.
Denmark expressed its concern, saying that it was open to the European Union taking additional measures against this parallel Russian fleet. Danish Foreign Minister Lars Løkke Rasmussen highlighted the lack of proper insurance as a problematic issue.
Since the imposition of Western sanctions, the number of tankers carrying Russian oil without insurance has risen dramatically. In just three months, 191 tanker voyages were scheduled from Russian Baltic ports, 140 of which were carried out on uninsured vessels from Western suppliers.
William Shakespeare is a journalist and feature writer specialising in culture, entertainment, history, and current affairs. With a keen eye for storytelling and analysis, he produces informative articles that help readers understand the people, ideas, and events influencing modern life.
