UK targets Russian "shadow fleet" in new round of sanctions

The United Kingdom announced another list of individuals and institutions under sanctions. For the first time, it includes entities from the so-called "shadow fleet," which serves Russia in circumventing Western sanctions.

On Thursday, four "shadow fleet" ships were added to the sanctions list, which already contains over 2,000 entries. These include two ships used to transport weapons to Russia, six companies operating in or supporting the Russian LNG sector, one insurance company, one ship repair company, two enterprises connected to the Russian civilian nuclear industry, four companies and one individual linked to the Russian financial sector, 21 companies supplying ammunition, tools, microelectronics, logistics, or other support for the Russian military-industrial complex, six people or enterprises benefiting from the invasion of Ukraine, and two entities associated with the Wagner private military group.

Among the companies sanctioned for supporting the Russian military-industrial complex are five based in China, two in Turkey, and one each in Kyrgyzstan and Israel.

Today we are once more ramping up economic pressure through sanctions to bear down on Russia’s ability to fund its war machine. Putin must lose, and cutting off his ability to fund a prolonged conflict is absolutely vital - said Prime Minister Rishi Sunak.

The British government emphasized in a statement that sanctions have been imposed on ships from the "shadow fleet" for the first time. It reminded that oil exports are the most crucial source of funding for Vladimir Putin's war in Ukraine. Oil production tax amounted to 8.9 trillion rubles in 2023, representing 31 percent of Russia's total federal revenues.

Along with the information on sanctions, the United Kingdom has also committed to providing Ukraine with £242 million (approximately CAD 410 million) in bilateral aid to support its immediate humanitarian, energy, and stabilization needs.