The United Kingdom has announced a major new wave of sanctions targeting Russia's so-called 'shadow fleet'—a network of 135 oil tankers and two associated companies used to secretly transport Russian oil and evade existing international restrictions.
These measures are designed to disrupt the flow of oil revenue that helps fund Russia's war effort in Ukraine, with the UK government estimating that these tankers have moved $24 billion worth of oil since early 2024. The sanctions also target Lukoil’s Dubai-based trading arm and a shipping company operating flag registries used by the shadow fleet. This coordinated action with the EU aims to tighten enforcement and close loopholes in the global sanctions regime.
Analysts say the move could significantly impact Russia’s ability to finance its military operations and increase scrutiny on the global shipping industry.
.Be the first to reply to this general discussion.
Join in on more popular conversations.
