New Zealand targets shadow fleet in expanded Russia sanctions

New Zealand announced on Thursday that it would broaden sanctions against Russia’s oil sector and its so-called shadow fleet, during a meeting with the foreign ministers of the five Nordic countries in Stockholm.

Foreign Minister Winston Peters said in a statement that an additional 65 shadow fleet vessels, as well as entities from Belarus, Iran and North Korea involved in refining, transporting, and facilitating payments for Russian oil, would be sanctioned.

The shadow fleet refers to tankers that carry sanctioned oil from countries such as Russia, Iran and Venezuela, disguising their activities through falsified locations, documents and identities.

“These actors form part of a wider network supporting the trade in Russian oil and undermining global efforts to cut off funding for Russia’s illegal war,” Peters said. “By targeting the oil supply chain, New Zealand is taking firm action to back international attempts to bring Russia to the negotiating table.”

The move follows a Reuters investigation published on Tuesday, which revealed that Maritime Mutual, a small New Zealand-based insurer, had provided cover to ships moving billions of dollars’ worth of Iranian and Russian oil, enabling them to access ports despite Western sanctions.

Copied