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| France has seized a shadow fleet tanker suspected of carrying sanctioned oil under a false flag and has taken it to Marseille. Should this ship be formally impounded, the entirety of the shadow fleet would fall.
If a precedent is set here, everyone could begin detaining similar vessels. And it wouldn’t be hard to rapidly clear the waters of these vessels via major maritime choke points. A maritime services firm has kindly offered to legally take possession of seized shadow fleet ships and dismantle them (most of these floating rust-buckets should have been scrapped years ago, but instead were used to evade sanctions).
So, the shadow fleet could fall within months, but that creates a new series of problems. That’s 5 million barrels per day of crude going offline very quickly, making global energy markets quite volatile. |
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