Red alert: Allianz warns of billions in damage from oil disasters!

Red alert: Allianz warns of billions in damage from oil disasters!

The discussion about the Russian shadow fleet continues to grow as the EU plans a new package of sanctions to curb these activities. In this context, Allianz Insurance emphasizes that there are financial risks from the operation of Russian oil tankers. Justus Heinrich from Allianz expresses serious concerns about the dangers of fires, oil spills and collisions that can arise from the aging ships. Russian cargo ships, many of which have already been decommissioned, are increasingly being used to transport oil. These old large tankers are particularly prone to stability problems, especially in adverse weather conditions.

An example of this is the tanker “Eventin”, which became unable to maneuver due to a power failure. Given these risks, experts warn that in the event of any collisions with these Russian tankers, the alliance could be liable for possible damage, especially since it often remains unclear who is responsible. In the current situation, around 600 tankers are part of the Russian shadow fleet, which are in the process of exporting a significant portion of Russian oil.

Diplomatic agreements and environmental concerns

Parallel to the financial risks, the political and diplomatic dimension of the problem is becoming clearer. Greenpeace activists have already taken action and are blocking tankers carrying Russian oil on their way to European ports. They are calling on the European community to ban the import of fossil fuels from Russia and ultimately to accelerate the extraction of these fuels. Countries bordering the Baltic Sea have joined forces in a diplomatic campaign to take action against the Shadow Fleet.

A third of Russian oil is exported through Danish waters. Denmark's Foreign Minister Lars Løkke Rasmussen speaks of a broad consensus among the neighboring states regarding the dangers and international nature of the problem. In order to prevent the passage of these Russian ships, he is holding talks with neighboring countries.

On the part of Russia, Ambassador Vladimir Barbin expresses criticism of Denmark. He describes the attempt to restrict free shipping as questionable. Barbin argues that Western sanctions pose a security and environmental threat, not Russian ships or dumped oil. In this context he refers to the Copenhagen Treaty of 1857, which was intended to guarantee unhindered passage.

Regional measures against oil tankers

Finland and Sweden are also intensifying their efforts to counter the Shadow Fleet. Finland particularly warns about the oil spills that could be caused by older, inadequately insured ships, especially in winter. In this context, Finland is calling on the EU to purchase a special ship to combat oil spills in the northern Baltic Sea.

In addition, Greece has closed a maritime area southeast of the Peloponnese to the passage of tankers since May 1, officially because of military exercises. A new “hotspot” for Russian tankers has developed in the Mediterranean, located on a stretch of coast in eastern Morocco, near Nador. Here, large quantities of Russian oil are being transferred from smaller ships to larger tankers, further stoking environmental and safety concerns.

The situation surrounding the Russian shadow fleet remains tense, and both political and economic consequences are still to be expected. The international community is faced with the challenge of taking effective measures to address the risks.

t-online.de reports about the financial risks while hansa-online.de provides additional information on the diplomatic efforts against the Shadow Fleet.