UK Cracks Down on Russia’s Shadow Fleet with New Sanctions

The UK has unveiled new measures targeting Russia’s shadow fleet operations and oil trade as part of a broader 100-sanction package.

The UK’s latest maritime sanctions specifically target 18 additional ships involved in Russia’s shadow fleet operations, following the Prime Minister’s earlier announcement of 110 shadow fleet-related sanctions during his recent Kyiv visit.

The action comes as the EU adopted its 17th sanctions package targeting 189 shadow fleet vessels—its largest to date.

In a notable development, British national John Michael Ormerod has become the first UK shipping figure to face sanctions for procuring vessels for Russia’s shadow fleet. The sanctions also extend to two Russian shadow fleet tanker captains.

The UK government, in coordination with G7 partners, is also reviewing the Oil Price Cap mechanism, currently set at $60 per barrel for crude oil. The review aims to lower the cap closer to production costs, directly targeting Russia’s oil revenue streams.

These maritime sanctions are part of a broader economic pressure campaign that has already shown significant impact. Recent data indicates that Russia’s economy has entered a recession in non-defense sectors, with security and defense spending now consuming over 40% of the federal budget.

The EU’s parallel efforts have led to a dramatic increase in sanctioned vessels, with their list expanding from 79 ships at the end of 2024 to 342 vessels currently.

Foreign Secretary David Lammy emphasized the UK’s commitment to maintaining pressure on Russia, stating, “We have been clear that delaying peace efforts will only redouble our resolve to help Ukraine to defend itself and use our sanctions to restrict Putin’s war machine”.

The sanctions package also targets 46 financial institutions involved in sanctions evasion, along with the St. Petersburg Currency Exchange and the Russian Deposit Insurance Agency.

These coordinated international measures aim to further isolate Russia’s economy and disrupt its maritime trade capabilities, particularly focusing on constraining its ability to profit from oil exports through alternative shipping arrangements.

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