The risks associated with oil spills are exacerbated by the fact that the shadow fleet of Russian oil tankers operates without third-party liability coverage from the International Group of Insurers (IG), according to transport safety experts.
The energy sector is concerned that smaller, less experienced traders are now transporting oil over longer distances using aging vessels with unknown insurance status. A significant portion of these ships are outdated oil tankers acquired by Russia to circumvent Western sanctions; they are often insured locally.
Experts warn of a growing risk of a catastrophic oil spill due to the use of «thousands of vessels» lacking insurance from reputable providers. «No one will step in to clean up the mess. It is a social and environmental disaster waiting to happen, and it should be a matter of grave concern for us all.»
Consequently, experts advocate for stricter measures against shadow fleet tankers, including seizing vessels on the high seas to prevent them from continuing their voyages. They also call for rigorous checks of documentation, particularly regarding the vessels’ technical condition.
