KSE Institute has released a special review, “Emerging and Unsanctioned Shadow Fleet,” examining the new vessels Russia deployed to its shadow fleet for transporting crude oil and petroleum products from January 2025 to July 2025. In addition, the study examines Russian shadow tankers that were active between January 2024 and July 2025 and still remain unsanctioned.

Key Findings:

• From January to July 2025, Russia deployed 60 new tankers for transporting crude oil, of which 26 still meet the shadow fleet criteria and are not sanctioned. Similarly, 55 tankers were deployed for petroleum products, of which 28 meet the shadow fleet criteria and are not sanctioned.

• The most common flag among these vessels is Panama, which is grey-listed under the Paris MoU. 

• Of the 26 new crude oil tankers, 9 are owned and managed by companies from Seychelles, Mauritius, and the Marshall Islands, each operating a single tanker with no transparent information about their activities. Of the 28 petroleum product tankers, 10 are managed by Russian companies, and 7 by UAE companies.

• 92% of new crude oil tankers and 71% of new petroleum product tankers are over 15 years old.

• In addition, KSE Institute identified 81 shadow tankers that conducted more than three voyages from Russia during January 2024 – July 2025 in shadow fleet status, however, have not yet been sanctioned by any jurisdiction.

• Of these, 60% sail under the flags of Russia and Panama, 63% are managed by Russian and UAE companies.

Considering the ongoing work on the 19th EU sanctions package, KSE Institute urges European partners to continue efforts targeted at combating Russian shadow fleet activities.