Victoria Craig
speaker
1,335 appearances
27 recordings
2 series
first heard May 2025
last heard 31 Aug
Victoria Craig’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 24 in all, peaking in Aug 2026 with 11.
Appearances
Now, this may sound familiar because the country has been doing something similar with oil.
It's been using a so-called dark fleet of oil tankers to evade Western sanctions.
Now, this time, Moscow is trying to get around incoming import restrictions from Europe —
And EU countries buy a lot of gas from Russia.
In fact, they bought almost all of the Siberian plant YAML's output in the first half of this year.
Despite that, the bloc wants to cut fossil fuel revenues that are helping the Kremlin fund its war in Ukraine.
So from 2027, EU countries will be banned from importing all Russian LNG.
But this shadow fleet, which is made up of secondhand tankers as well as domestically built ones, will allow Russia to keep shipping gas despite that ban.
And that is because shadow tankers are mainly owned by Russia-linked shell companies in places like Dubai, Hong Kong, and Singapore, and they use flags of convenience to operate.
They'll also typically jam signals and conduct ship-to-ship transfers in order to disguise where their cargoes are originally from.
A country stepping into the market to support its own currency isn't rare.
But one country helping another do it?
That's a bit unusual.
It's exactly what the United States has done, though, and officials say they're prepared to do it again if needed as Japan tries to halt the yen slide.
Japan's finance ministry confirmed this week that it acted in an historic joint intervention with the U.S.
Treasury.
Katie Martin, FT Markets columnist and unhedged podcast host, has been keeping tabs on this development.
She joins me now to chat through about what is happening.
Hey, Katie.
Hey, Victoria.
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