The Price Cap Coalition maintained by the G7, the European Union, Australia, and New Zealand has issued an update to its policies regarding Russian oil, with a specific warning for brokers. The document, published yesterday, states: “A ‘shadow’ trade has become more pronounced, often involving actors and cargo affiliated with countries and/or persons subject to sanctions, or associated with other illicit activity. This shadow trade is characterized by irregular and often high-risk shipping practices that generate significant concerns for both the public and private sectors.” As well as previously telegraphed calls to ensure ships are suitably insured, flagged and classed, the guidelines carried advice for brokers. “Those involved in the sale and brokering of tankers should remain vigilant of potential evasive or illicit purchase structures and end-uses, especially for ageing tankers, including tankers previously designated for recycling,” the guidelines state, urging greater due diligence when carrying out tanker sales. British marine service providers are coming under greater scrutiny for their dealings with Russian oil, with major reports carried out earlier this month by both the Financial Times and the BBC. On October 10, the Financial Times published the detailed results of a five-month investigation into Russia’s dark fleet in which London-listed Braemar was accused of helping broker a number of tankers to move Russian oil. “For every transaction that Braemar considers undertaking, it conducts all appropriate due diligence with know-your-customer checks, legal, compliance and regulatory adherence,” Braemar told the Financial Times. The BBC, the UK’s public broadcaster, reported that the government is investigating 37 UK-linked businesses, including a number of marine insurers, for potentially breaking Russian oil sanctions. The crude oil price cap, which came into effect on 5 December 2022, was implemented by the EU, G7 and Australia, restricting the use of Western shipping services if prices for Russian oil exceed a certain price cap, currently set at $60 per barrel of crude oil. A similar cap for Russian products came into effect two months later. With the 1,000th day anniversary of the start of the full-scale invasion of Ukraine fast approaching, finally, there appears to be far greater collaborative efforts among Western nations to crack down on the shadow fleet. For instance, the UK last week started what could be the beginning of a greater Europe-wide scrutiny of Russia’s dark fleet. while in Asia. one of Moscow’s top oil clients, India, has also come out with new guidance, taking aim at substandard tonnage. The UK’s Department for Transport is working alongside the Joint Maritime Security Centre (JMSC) and the Maritime and Coastguard Agency (MCA) to challenge shadow fleet vessels with what the government described as “suspected dubious insurance” to provide details of their insurance status as they pass through the English Channel. Failure to provide approved insurance could result in ships being detained, the government stated yesterday. At the European Political Community Summit in July, Keir Starmer, the British prime minister, announced what was described as a shadow fleet call to action. Last week, the US and Canada said they had joined 44 European countries in this collaborative effort to tackle the risks posed by the shadow fleet. The call to action urges all member states of the International Maritime Organization (