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    HomeWorldUK imposes new sanctions on Russia's shadow fleet

    UK imposes new sanctions on Russia’s shadow fleet

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    The UK has introduced new sanctions in opposition to Russia that purpose to limit its revenues from the transportation and sale of oil.

    Supply: UK authorities web site; European Pravda

    Particulars: The UK has sanctioned 135 oil tankers which can be a part of the so-called shadow fleet liable for transporting US$24 billion price of Russian oil for the reason that begin of 2024.

    The UK authorities reported that two firms have additionally been sanctioned. One is liable for registering shadow fleet vessels, and one is related to the Russian oil firm Lukoil.

    "New sanctions will additional dismantle Putin’s shadow fleet and drain Russia’s warfare chest of its vital oil revenues," Overseas Secretary David Lammy mentioned.

    The UK authorities underlined that Western sanctions have reduce Russia's oil and gasoline revenues by one-third since 2022.

    Background:

    • The UKʼs new restrictive actions come after it joined with the European Union in decreasing the worth cap on Russian oil final week.
    • The EU package deal imposes sanctions on 105 vessels from Russia’s shadow fleet and targets banks and corporations outdoors Russia that assist its navy machine.

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