Britain Imposes New Sanctions on Ships in Russia’s “Shadow Fleet” to Curb Oil Trade

According to the notice, these ships are believed to be registered under the flags of Panama, Gabon, and the Cook Islands.

Britain introduced 11 new shipping sanctions under its Russia sanctions regime related to the ongoing war in Ukraine, as per an official notice released on Thursday.

The government stated that the sanctions target ships like Zaliv Amurskiy and SCF Pechora, which are involved in transporting oil or oil products from Russia to third countries.

According to the notice, these ships are believed to be registered under the flags of Panama, Gabon, and the Cook Islands.

Last month, Britain imposed its initial sanctions specifically aimed at vessels within Russian President Vladimir Putin’s so-called “shadow fleet.”

These ships are purportedly used to bypass Western sanctions on the trade of Russian oil.

In June, the UK government’s sanctions enforcement body, the Office of Financial Sanctions Implementation (OFSI), added Ingosstrakh to its list of designated Russian entities.

Ingosstrakh provides services to Russian oil exporters, including ship insurance coverage. The firm has indicated that it might challenge these sanctions.

The sanctions are part of a broader strategy to tighten economic pressure on Russia in response to its actions in Ukraine.

The aim is to disrupt the logistics and financial networks that support the transportation of Russian oil, thereby limiting Russia’s ability to generate revenue from its natural resources.

In recent months, Western nations have intensified their efforts to enforce sanctions on Russia, targeting various sectors including energy, finance, and shipping.

These measures are designed to weaken the Russian economy and compel the government to cease its military activities in Ukraine.

The inclusion of ships with flags from different nations highlights the complexity and international scope of the sanctions enforcement.

It also underscores the collaborative efforts among countries to address sanctions evasion tactics employed by Russia.

Britain’s proactive stance in identifying and sanctioning ships involved in the Russian oil trade marks a significant step in the international community’s response to the Ukraine conflict.

As the situation evolves, further sanctions and regulatory actions are anticipated to reinforce the pressure on Russia.