Bobbing on the Horizon sits the Dashan, a Hulking Oil Tanker, Flying the Flag of an Obscure Cluster of Islands, with its Transponders Switched Off. But what the Crew did Not realise was that the Tanker was being Tracked through the Black Sea by Ukraine’s SBU Security Service and Two Sea Baby Naval Drones. Before it reached the Russian Port of Novorossiysk to Load Sanctioned Crude Oil, One of the Kamikaze Sea Drones, packed with Explosives, raced towards the Tanker. Within seconds, a Detonation ripped through the Ship’s Stern.
Days later, Turkish Authorities Reported another Drone Attack, about 80 miles from Turkey’s Coastline, on the Midvolga-2, a Russian Tanker carrying Sunflower Oil from Russia to Georgia. While Ukraine took Credit for the First Two Strikes, the Circumstances surrounding the Second and Third Attacks remain a Mystery. Serhii Kuzan, the Chairman of the Ukrainian Security and Cooperation Centre, told The Telegraph: “We see that the approach to targets in the Black Sea has changed.
Hiding behind Opaque Ownership Structures, Russia’s Shadow Fleet Tankers have been used to Skirt around Western Sanctions, which are designed to Cut Vladimir Putin’s ability to Raise Funds for His War Machine. The Fleet is mainly Composed of Ageing, Poorly Maintained Vessels belonging to Russian-Controlled Operators or more Nefarious Firms willing to Cash-Iin on the Higher Rates being Offered by Moscow to Transport Sanction Busting Shipments.
The Dashan, Kairos, and Virat, all Featured on the UK’s and EU’s Sanctions List, meaning the Vessels cannot Access Western Services, such as Insurance or Repairs, to Fulfil their Deliveries. The Dashan, a Suezmax Tanker Built in 2005, has been Sailed under Multiple Flags, most recently that of the Comoros Islands, and is Registered to a Firm in the Seychelles. It was Heading in the Direction of Russia’s Novorossiysk at High Speeds, with its Tracking System Switched Off, when it was Struck by Ukraine.
The Kairos was Sailing in similar Circumstances, Flying a Gambian Flag, Registered to a Chinese Firm, and Operated by a Russian Captain. It was not known what Flag the Virat was Sailing Under, but it was Registered in Hong Kong. Each of the Vessels has made Dozens of Trips across the Black Sea in 2025r, Highlighting their Importance in raising much needed Funds for Putin’s War.
According to Ukrainian Tracking Data, they have All Docked in China and India, the Two Largest Purchasers of Cheap, Sanction-Busting Oil Shipments from Moscow. Until now, Ukraine’s Efforts to Curtail Russia’s Energy Sector Profits have been Focused on Oil Refineries, which have Driven-Up Prices and Triggered Local Shortages.
The Expansion of this Campaign to Shadow Fleet Vessels appeared to have an immediate Effect on Exports. Russian Oil Exports already reached a years-long Low in November, 2025, thanks to Western Sanctions and Waves of Drone Attacks on Land-Based Infrastructure. Before the Tanker Strikes, Moscow’s Main Issue was finding Buyers willing to handle Sanctioned Barrels at Huge Discounts.
Now Insurance Prices of Vessels, operating in the Black Sea, have Tripled in recent weeks, and continue to Increase, putting Further Pressure on Putin’s Revenues.
Mr Kuzan said: “The overall logic is that Russia can extract a lot of crude oil for its own needs, but if it cannot refine it – due to strikes on primary processing facilities at refineries – and cannot export it, its revenues will sharply decline.
“The very fact of such strikes forces Russia’s partners to either completely or partially abandon such contracts, understanding that the deadlines may be disrupted by our defence forces. Such risks significantly increase the cost of logistics and the expenses of intermediaries involved in shadow oil exports, which in turn reduces Russia’s revenues and directly affects the military budget.”
As well as Extracting a Financial Cost for Putin’s Invasions, the Strikes also Demonstrate that Ukraine is Not Down and Out in the Fight. For months, the Russian president has tried to argue, especially to the Americans, that he is on the verge of victory in Ukraine. It appears that Trump (R) takes these Claims Literally, earlier this week Warning Volodymyr Zelensky, Ukraine’s President, that He needs to Sign-Up to a Peace Deal, because He is on the Verge of a Military Defeat.
Konrad Muzyka, of Rochan Consulting, told the Financial Times that the Strikes “demonstrate both capability and intent” from Kyiv’s Armed Forces. Amid the Frantic Flurry of Diplomacy, it is likely that Ukraine will Report further Attacks on the Shadow Fleet to Prove that Putin is Not the Only Leader Capable of Suing for Peace.
Michael H. Drucker
