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 targeted tankers have moved $24 billion worth of oil since early 2024. The sanctions also hit Lukoil’s Dubai-based trading arm and a UAE-based shipping company operating flag registries used by the shadow fleet. This coordinated action with the EU aims to tighten enforcement and close loopholes in the sanctions regime, though concerns remain about enforcement and the possibility of 'flag hopping' to avoid restrictions.
The move is part of a broader Western effort to cripple Russia’s energy sector and limit President Putin’s access to critical war funding.
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