Tankers of the Russian shadow fleet have increased the use of flying false flags this year and exported $5.4 billion (4.7 billion euros) worth of Russian oil between January and September, the Centre for Research on Energy and Clean Air (CREA) said in a new report.
A total of 113 Russian ‘shadow’ vessels flew a false flag during their operations in the first nine months of 2025, the analysis found.
In volumes, 13% of Russian oil transported by ‘shadow’ vessels between January and September 2025 took place on vessels flying a false flag, the Helsinki-based CREA said.
The think tank found that there were 90 vessels that have operated under false flags in September 2025, a six-fold surge compared to December 2024. A total of 52 of these vessels have traded at least once in the third quarter of 2025, according to the analysis, which monitored tanker routes and open flag registries.
These open registries — also known colloquially as flags of convenience — are favored by shippers due to lower regulatory burdens and registration costs than closed registries, which also require a direct link between the vessel and the nation state.
But this year, following the EU, UK, and U.S. sanctions on tankers, many open registries have deflagged sanctioned vessels, and have been reluctant to allow new ‘shadow’ vessels to enter their fleet. A reluctance among traditional open registries to offer their services to the ‘shadow’ fleet has seen the proliferation of many new registries with little to no history on maritime transport, CREA said.
“The most frequently used false flag is that of Malawi. The first such case occurred in June 2025, and since then, 24 vessels have flown Malawi’s flag while carrying Russian oil. Every one of these vessels is sanctioned,” CREA said.
Contacted by Indian outlet PTI to shed light on false-flagging operations to ship Russian crude to India, CREA said its analysis found 30 such vessels shipped crude oil to India in the first nine months of 2025, with the value of the crude estimated at $2.4 billion (2.1 billion euros).
“The number of Russian ‘shadow’ tankers sailing under false flags is now increasing at an alarming rate,” Luke Wickenden, Energy Analyst and co-author of the report, told PTI.
“False-flagged vessels carried EUR 1.4 billion worth of Russian crude oil and oil products through the Danish Straits in September alone.”
By Charles Kennedy for Oilprice.com
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