The United Kingdom has imposed a major new round 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 the shadow fleet has moved $24 billion worth of oil since early 2024. The sanctions also target shipping and trading firms linked to Russia’s energy sector, including Lukoil’s Dubai-based trading arm. This move is part of a broader Western effort, coordinated with the EU, to tighten enforcement and close loopholes in sanctions against Russia.
Analysts note that these actions could further complicate global shipping and insurance markets, as Russia seeks new ways to bypass restrictions.
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