EPISODE 2: "THE SHADOW ECONOMY" Titelbild

EPISODE 2: "THE SHADOW ECONOMY"

EPISODE 2: "THE SHADOW ECONOMY"

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 EPISODE 2: "THE SHADOW ECONOMY" Alexandra Reeves follows the money, tracing how the shadow fleet is sustained by a vast infrastructure of willing participants. The episode reveals that Western shipowners—particularly Greek companies—have earned over $6 billion selling 230 aging tankers that ended up in Russia's shadow fleet, often at prices double their market value. Reeves exposes the shell company networks that obscure vessel ownership, the shadow banking systems using exchange houses in Dubai and Hong Kong to launder oil proceeds, the insurance fraud that allows uninsured vessels to operate, and the crew agencies in Ukraine and the EU that supply sailors to sanctioned ships. Through the story of a single tanker's transformation from the Aris to the Canis Power, the episode illustrates how legal transactions in fragmented jurisdictions collectively undermine international sanctions, creating a system where individual actors claim compliance while the whole structure enables evasion.

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