Thirty oil tankers in Russia’s shadow fleet, responsible for transporting billions of pounds worth of oil and oil products in the last year alone, have been sanctioned by the UK, according to updated information released by the British government on November 25.
Two Russian-based insurance companies enabling the fleet are also sanctioned, UK said, ratcheting up pressure on Russia.
With half of the ships targeted yesterday transporting more than $4.3bn worth of oil and oil products like gasoline in the last year alone, this is the largest UK package of its kind.
The move brings the total number of oil tankers sanctioned by the UK to 73, more than any other nation.
Forty-six countries and the EU have now signed up to the UK-led call to action against the so-called “shadow fleet”, announced by British prime minister Keir Starmer at the European Political Community summit in July.
The announcement comes as the Foreign Secretary uses the G7 Foreign Ministers meeting in Italy to push other countries to maintain pressure on Russia’s war machine, in parallel with efforts to step up military and financial support for Ukraine.
Foreign Secretary, David Lammy said: “Russia’s oil revenues are fuelling the fires of war and destruction in Ukraine.
“I will work with our G7 partners and beyond to exert relentless pressure on the Kremlin, disrupt the flow of money into its war chest, erode its military machine, and constrain its malign behaviour worldwide.”
The UK claims that it has sanctioned 73 oil tankers in the shadow fleet, compared to 39 sanctioned by the United States and 19 by the European Union.
This sanctions package comes after the world marked 1000 days since the Kremlin’s full-scale invasion of Ukraine.
