US Preparing Big Hunt For Russian ‘Shadow Fleet’

Russia may lose its oil.

Russia's so-called ‘shadow fleet’, through which the Russian Federation supplies its oil bypassing Western sanctions, risks facing tougher measures.

U.S. senators have introduced a bill in Congress that proposes to authorise the confiscation of oil from Russian tankers that are on the U.S. Treasury Department's sanctions list, Reuters reports.

If the bill is approved, the confiscated crude will be sold, and the proceeds will be used to repay the U.S. national debt. To improve control over compliance with the restrictions, it is proposed to create a special fund under the Ministry of Finance with a budget of $150 million.

The document also expands intelligence sharing and gives law enforcement agencies additional tools to combat illegal oil trading networks, said Joni Ernst, one of the bill's authors, who represents the Republican Party.

According to the senator, the bill would not only help counter Moscow's attempts to circumvent U.S. sanctions, but also give the U.S. the ability to use confiscated assets.

The US sanctions list includes two hundred ships carrying Russian oil. The most tangible blow to the ‘shadow fleet’ was dealt in January, when the administration of the previous White House host Joe Biden imposed sanctions on 180 tankers.

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