The Shadow Fleet in the Mediterranean: Spain as a Key Logistical Hub for Russian Oil

Abstract Book of the 14th International Conference on Opportunities and Challenges in Management, Economics and Accounting

Year: 2026

[PDF]

The Shadow Fleet in the Mediterranean: Spain as a Key Logistical Hub for Russian Oil

Antonio García-Amate, Jorge Fernández-Gómez

ABSTRACT:

European Union sanctions against Russia were intended to stifle its energy exports, yet flows have merely shifted south due to the emergence of a “shadow fleet.” This study analyzes maritime traffic data from the London Stock Exchange Group (LSEG) to demonstrate how Spain has become a critical logistical node for circumventing these blockades.
Our findings reveal a drastic reconfiguration of routes: the port of Ceuta, previously ranked 90th in Europe for Russian oil unloading, has risen to the 11th position. The analysis characterizes the participating fleet as high-risk, comprised predominantly of aging tankers (16–22 years old) flying flags of convenience such as Cameroon and Russia, and often managed by opaque entities in the UAE. We document specific regulatory violations, including the discharge of nearly 900,000 barrels by a sanctioned vessel in Ceuta in late 2025. Furthermore, the research highlights the activation of non-traditional ports like El Hierro. We conclude that current enforcement gaps not only fail to halt Russian exports but expose Southern Europe to severe environmental risks, necessitating stricter physical interdiction measures.

Keywords: Environmental risk; Maritime logistics; Russian oil; Sanctions; Shadow fleet