The UK has announced 137 new sanctions targeting Russia’s energy sector. The UK Foreign Office stated that the new sanctions will disrupt Russia’s oil revenues and render a larger portion of its already struggling stay-behind fleet dysfunctional.
The statement noted that the 137 new sanctions against Russia further increase pressure on Russia’s stay-behind fleet operations. “The sanctions directly target 135 oil tankers, which are part of a fleet that has been illegally carrying $24 billion in cargo since the beginning of 2024,” it said.
The statement noted that this action also increases pressure on those facilitating Russia’s stay-behind fleet oil trade, and that two shipping companies are also on the sanctions list.
This action tightens the net around those enabling Russia’s illicit shadow fleet oil trade, hitting INTERSHIPPING SERVICES LLC, responsible for registering shadow fleet vessels under the banner of the Gabonese flag, resulting in these vessels transporting up to $10 billion worth of goods on behalf of the Russian state per year. Sanctions also target LITASCO MIDDLE EAST DMCC, which is linked to Russian oil major Lukoil, for its ongoing role in moving large volumes of Russian oil on shadow fleet vessels.
Statement continues as follows: “Every attack we launch against Russia’s critical oil industry is another step towards securing a lasting peace in Ukraine, and a step towards security in the UK and beyond. Keeping the country safe is this government’s priority and is an integral part of the Prime Minister’s Plan for Change. ”
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