Russia's 'Shadow Fleet': EU Targets Lukoil's Dubai Subsidiary.

EU Prepares Sanctions Against Litasco Middle East DMCC Due to Moscow's Secret Tanker Fleet

The European Union is considering imposing sanctions against Litasco Middle East DMCC, a Lukoil company based in Dubai, over the illegal activities of Moscow's tanker fleet. According to documents, this will be the first instance of sanctions against Litasco following Russia's invasion of Ukraine. Lukoil was the second-largest exporter of Russian oil to international markets last year.

According to proposals, the imposition of sanctions against Litasco Middle East aims to prevent an increase in vessels transporting Russian oil. These measures are part of the EU's sanctions package against Russia due to the invasion of Ukraine. They are aimed at increasing pressure on the Russian government, which is heavily dependent on energy revenues and its ability to sustain the war in eastern Ukraine.

The sanctions are expected to also burden over 60 individuals and approximately 150 vessels, raising the total number of vessels subject to EU sanctions to over 300. Among companies that may be sanctioned are one of Russia's largest insurers VSK and Surgutneftegas, which was sanctioned by Biden during his term.