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 companies used to secretly transport Russian oil and evade existing international restrictions.
These measures are designed to cut off a critical revenue stream for the Kremlin, which has reportedly moved $24 billion worth of oil through these vessels since early 2024. The sanctions also hit Lukoil’s Dubai-based trading arm and a UAE-based shipping company, reflecting a broader Western effort to disrupt the infrastructure supporting Russia’s oil exports. The move is part of a coordinated push by the UK and EU to tighten enforcement and close loopholes in sanctions regimes.
Analysts say these actions could significantly impact Russia’s ability to fund its war in Ukraine and may trigger shifts in global shipping and insurance practices.
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