Britain Tightens Grip on Russian LNG with Fresh Sanctions

by Muvija M

LONDON (Reuters) – Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly.

“Earlier this year, the UK sanctioned Arctic LNG 2, alongside our allies in the US and EU. Since then, the project has been forced to slash production,” the government statement said.

“Today’s action builds on this by targeting ships and entities involved in the Russian LNG sector, which engage with projects important to Russia’s future energy production.”

Thursday’s sanctioned entities were White Fox Ship Management and Ocean Speedstar Solutions OPC. The ships were Asya Energy, Pioneer, North Sky, SCF La Perouse and Nova Energy.

Also read: First Panamax Containership Sprints Across Arctic Reaching China In Just Three Weeks

Earlier this month Britain slapped sanctions on 10 further ships in Russia’s so-called “shadow fleet” of vessels which it says use illicit practices to avoid Western restrictions on Russian oil.

Russia rejects Western pressure to limit its oil exports, and in the past year there has been a growth in the number of tankers transporting cargoes that are not regulated or insured by conventional Western providers.

(Reporting by Muvija M, Writing by Kylie MacLellan; editing by William James, Reuters)