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 cut off billions in oil revenue that Russia uses to fund its war effort in Ukraine. The sanctions also target trading arms and shipping companies linked to Russia’s energy sector, including Lukoil’s Dubai-based unit. The move is part of a broader Western effort, coordinated with the EU, to disrupt the infrastructure supporting Russia’s illicit oil trade and tighten enforcement of existing sanctions.
Analysts say the crackdown could have significant impacts on global shipping and insurance markets, while further isolating Russia’s energy exports.
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