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New Zealand Adds 65 Vessels and Entities to Sanctions Over Russia’s Shadow Fleet Trade
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New Zealand has expanded its sanctions on Russia’s oil sector, targeting the so-called shadow fleet of tankers used to evade Western trade restrictions, Reuters reported on October 30.
New Zealand’s Foreign Minister Winston Peters announced the measures on Thursday in Stockholm, where he met with the Nordic 5 foreign ministers. The new package adds 65 vessels and entities from Belarus, Iran, and North Korea involved in refining, transporting, or financing Russian oil.
“These actors are part of a broader network enabling the trade in Russian oil, undermining global efforts to curtail funding for Russia’s illegal war,” Peters said. “By targeting the oil supply chain, New Zealand is acting decisively in support of international efforts to bring Russia to the negotiating table.”
The so-called shadow fleet—tankers that disguise sanctioned cargoes through falsified documentation and route manipulation—has become a central tool for Russia, Iran, and Venezuela to sustain exports despite Western embargoes, Reuters wrote.
Previously, it was reported that a New Zealand company, Maritime Mutual, has allegedly insured tankers that moved sanctioned oil from Russia and Iran, with the total value reaching tens of billions of US dollars, according to investigation conducted by Reuters.
Earlier, the Australian government has announced new measures against Russia’s war economy, lowering the price cap on Russian oil exports from $60 to $47.60 per barrel and imposing targeted sanctions on an additional 95 shadow fleet vessels.
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