UK imposes sanctions on 100 oil tankers belonging to Russia's shadow fleet

The UK government has announced sanctions against 100 Russian oil tankers belonging to the so-called shadow fleet that are helping Russia circumvent Western sanctions.

Source: press release by the UK government dated 9 May; Bloomberg

Quote from the press release: "Russia’s shadow fleet will be hit with the largest ever sanctions package today, ramping up pressure on Putin and protecting UK and European critical national infrastructure."

Details: The UK government considers these vessels key to Russia’s scheme to transport oil in violation of Western sanctions.

The new package will increase the number of sanctioned vessels by 75% as the country seeks to punish Moscow for its invasion of Ukraine. Since the beginning of 2023 alone, these tankers have transported cargo worth more than US$24 billion.

"Every step we take to increase pressure on Russia and achieve a just and sustainable peace in Ukraine is another step towards security and prosperity in the UK," UK PM Keir Starmer said. 

The UK says the goal isn't just to stop these ships, but also to hold accountable the people and organisations behind the shadow fleet transport operation.

Quote from the press release: "Putin uses the shadow fleet to cling onto his oil revenues and prop up the Russian oil industry.  Thanks to Western sanctions, Russia’s oil and gas revenues have fallen every year since 2022 – losing over a third of its value in three years. Sanctions and the cost of his barbaric war are causing the Russian economy to stall – with the wealth fund hollowed out, inflation rising and government spend on defence and security spiralling."

Details: The UK government has also expressed concern about the technical condition of these vessels and the threat they may pose to critical infrastructure, particularly undersea cables.

The United Kingdom has imposed sanctions on more vessels in the shadow fleet than any other country. A total of 133 tankers are already under sanctions, some of which are also subject to restrictions by other countries. Meanwhile, according to Bloomberg, 39 of the 41 vessels recently sanctioned only in the UK continue to transport Russian oil.

Watch the investigation Russia continues to ship oil directly to the EU despite sanctions, investigation finds – video

Support Ukrainska Pravda on Patreon!