UK imposes new sanctions on Russia’s oil, shadow fleet, war supply chains
On Thursday, the United Kingdom announced a new package of sanctions against Russia targeting its shadow fleet, oil companies, financial networks and suppliers of goods to the military industry.
The UK has imposed new sanctions on Russia, targeting 38 legal entities and individuals. Among those affected are Russian oil companies Zarubezhneft and INK Capital. The UK has become the first G7 nation to sanction Russia's four largest oil producers, covering over 90% of its oil production capacity. The sanctions also extend to 12 additional oil tankers, bringing the total of vessels under UK sanctions to more than 600.
These vessels are believed to be used to bypass sanctions and transport Russian oil, often through deceptive means and false flags.
Furthermore, 17 more entities and individuals involved in supplying Russia with essential goods, such as machine tools, electronics, and materials for manufacturing military equipment, have been sanctioned. Russia reportedly obtains these goods through third countries. The UK has also targeted three cryptocurrency exchanges, two payment platforms, and an individual suspected of aiding Russia in circumventing financial restrictions.
Two of these entities processed transactions through the A7 financial network, a Kremlin-backed network that handled over $90 billion in transfers last year.
The UK aims to weaken Russia's war budget, counter propaganda, and hold accountable those involved in the torture of Ukrainian civilians and the deportation of children.
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