On 21 July, the UK announced 137 new sanctions to ramp up pressure on Russia’s oil industry and target shadow fleet operations, according to Reuters.
UK Blacklists 135 Russian Tankers
According to the UK Government, the 137 targets strike at the heart of Russia’s energy sector, restricting Putin’s access to key oil revenues. The new sanctions further crack down on shadow fleet operations, targeting 135 oil tankers which form part of the fleet responsible for illicitly carrying $24 billion worth of cargo since the start of 2024.
The action also tightens the net around those enabling Russia’s illicit shadow fleet oil trade, hitting a company responsible for registering shadow fleet vessels under the banner of the Gabonese flag, resulting in these vessels transporting up to $10 billion worth of goods on behalf of the Russian state per year.
UK’s sanctions also target a company which is linked to Russian oil major Lukoil, for its ongoing role in moving large volumes of Russian oil on shadow fleet vessels.
“New sanctions will further dismantle Putin’s shadow fleet and drain Russia’s war chest of its critical oil revenues. As Putin continues to stall and delay on serious peace talks, we will not stand idly by. We will continue to use the full might of our sanctions regime to ratchet up economic pressure at every turn and stand side by side with Ukraine,” said Foreign Secretary, David Lammy.
To remind, just a few days before, on 18 July, the European Council adopted of the 18th Russia sanctions package, aimed at further ramping up pressure on the country.
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Source: Reuters
