India Moves Against the Shadow Fleet With First-Ever Tanker Seizures

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India has seized three oil tankers involved in oil smuggling, marking its first move against the growing shadow fleet. This move aims to curb oil smuggling and revenue loss. The operation is seen as a step towards reducing the country's reliance on black market oil imports.

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Bullish
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80%
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India has seized three oil tankers involved in oil smuggling in what is believed to be the country’s first move against the growing shadow fleet of tankers. The Indian Coast Guard has said that it busted on February 6 “an international oil-smuggling racket” in a land and sea operation. “The syndicate exploited mid-sea transfers in international waters to move cheap oil from conflict-ridden regions to motor tankers, evading duties owed to coastal states,” the Coast Guard added. The authorities intercepted three…

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