UK imposes new sanctions on Russia's shadow fleet

The UK has announced new sanctions against Russia that aim to restrict its revenues from the transportation and sale of oil.

Source: UK government website; European Pravda

Details: The UK has sanctioned 135 oil tankers that are part of the so-called shadow fleet responsible for transporting US$24 billion worth of Russian oil since the start of 2024.

The UK government reported that two companies have also been sanctioned. One is responsible for registering shadow fleet vessels, and one is associated with the Russian oil company Lukoil.

"New sanctions will further dismantle Putin’s shadow fleet and drain Russia’s war chest of its critical oil revenues," Foreign Secretary David Lammy said.

The UK government underlined that Western sanctions have cut Russia's oil and gas revenues by one-third since 2022.

Background: 

• The UKʼs new restrictive actions come after it joined with the European Union in lowering the price cap on Russian oil last week.
• The EU package imposes sanctions on 105 vessels from Russia’s shadow fleet and targets banks and companies outside Russia that support its military machine.

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