Barbados and Panama to De-Flag More Than 100 Russian Shadow Fleet Tankers

114 Russian shadow fleet oil tankers are being forced to change the flags under which they operate as sanctions from the US and UK tighten the noose on Moscow’s shipping operations, Bloomberg reported on January 23.

The Barbados ship registry announced that by the end of January, it will ask 46 vessels to remove the country’s flag due to UK-imposed sanctions. Fourteen of these ships are also under US sanctions. Separately, Panama’s ship registry revealed earlier this month that it has begun de-listing 68 vessels sanctioned by the US.

While all of these ships are likely to secure new flags, many Russian-linked vessels have been forced to repeatedly switch to unconventional registries since the full-scale invasion of Ukraine in 2022. The reliance on less reputable service providers highlights the disruptive impact of international sanctions on the logistics network enabling Russia’s oil exports and, by extension, its war efforts.

This latest crackdown follows a series of sweeping sanctions introduced earlier this month targeting Russia’s energy exports.

Sailing under Barbados' flag had previously been a win for Russian shipping, given the country’s strong reputation for maritime safety standards. However, Barbados has now aligned with UK sanctions.

According to Giovanni Ciniglio, CEO of the Barbados Maritime Ship Registry, the nation does not impose sanctions on Russia but complies with UK regulations due to its close ties with London. Consequently, Barbados will only remove vessels sanctioned by both the US and the UK.

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Some of the de-flagged ships have already been re-registered under flags of other nations, including Tanzania and São Tomé and Príncipe, as per the Equasis marine database.

Panama, another key player in global shipping, has also cracked down on Russian-linked vessels. The country recently adopted a rule aligning its registry policies with sanctions from the US, EU, UK, and United Nations, prompting the removal of 68 sanctioned ships.

Earlier, reports emerged that the latest US sanctions on Russian oil, introduced by the outgoing administration of President Joe Biden, could strip the Russian budget of one-fifth of its oil and gas revenues in 2025.