The United Kingdom has announced 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 revenues that help fund Russia’s war effort in Ukraine, with the UK government estimating that the targeted tankers have moved $24 billion worth of oil since early 2024. The sanctions also include actions against Lukoil’s Dubai-based trading arm and a UAE-based shipping company operating flag registries used by the shadow fleet. This move is part of a broader Western effort, alongside the EU, to tighten enforcement and close loopholes in sanctions against Russia’s energy sector.
Analysts note that while sanctions have been tightened, enforcement challenges remain, and the crackdown could lead to increased 'flag hopping' as ships seek to avoid detection.
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