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If Russia operates a “shadow fleet” of aged oil tankers to circumvent sanctions, isn’t it an exceedingly stupid idea for them to use those very vessels to damage underwater cables?

They should expect that one of them will get caught (as happened here), and that this will not only draw attention to their sanction circumvention scheme, but also harden Europe’s resolve to actually do something against it.

What am I missing?

Wasn’t the attack of Ukraine a stupid idea in the first place?

Maybe they overestimate their cleverness.

"Rapidus Obruo", apply directly to the keel.