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 allegedly 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 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 Russia’s ability to bypass sanctions and maintain its oil exports.
Analysts say the crackdown could have significant impacts on global shipping and insurance markets, as well as further strain Russia’s war finances.
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