EU-linked insurers enable Russian shadow fleet oil exports, analysts say (politico.eu)

• EU-linked insurers indirectly covering Russian shadow fleet oil exports.
• Sanctions evasion network uses intermediaries to obscure insurance and financing.
• EU preparing 21st sanctions package targeting enablers; maritime service ban sidelined.
• Russian fleet comprises up to 1,700 aging tankers, posing environmental and financial risks.

"Analysts and lawmakers say European financial markets are indirectly insuring Russia's shadow fleet, which transports sanctioned oil. Despite EU sanctions, Russia continues exporting oil through aging tankers with opaque ownership. The insurance liability, potentially billions of dollars, may flow back into European markets through reinsurance. The EU is preparing a 21st sanctions package targeting enablers, but tracing insurance sources is difficult due to deliberately obscured structures. A proposal to ban maritime services for Russian vessels has been sidelined. Environmental risks from poorly maintained tankers also grow."