UK finance minister calls for tighter Russian shipping sanctions
BANGKOK: British finance minister John Healey called on other nations to tighten sanctions on Russia-linked shipping, as he prepared to meet his foreign counterparts at the International Monetary Fund’s annual meetings in Bangkok on Thursday. “My message to finance ministers here today … on Ukraine, is to stay the path on tough economic sanctions on Russia, especially a tighter ban on shipping…
British Finance Minister John Healey urged fellow nations to strengthen sanctions on Russia-connected shipping during his preparations for an International Monetary Fund meeting in Bangkok. He emphasized the need to enforce stricter controls on shipping services that aid Russian President Vladimir Putin's illicit fleet. Britain has already imposed sanctions on various shipping and related services believed to support Russia's war efforts in Ukraine.
Meanwhile, the US administration is reportedly contemplating easing sanctions on certain "shadow fleet" vessels that have transported oil and petroleum from Russia, Iran, and Venezuela, in an attempt to alleviate soaring global freight rates. This proposal follows Trump's temporary lifting of sanctions on Russian diesel fuel, which sparked widespread criticism from Ukrainian President Volodymyr Zelenskiy, European nations, and some Republican senators.
Healey also announced that Britain would contribute £17 million ($23 million) towards repairing Ukraine's Chornobyl nuclear power plant, which was damaged by a Russian drone strike last year, alongside assistance from the US and France. He expressed his commitment to the IMF's favorable assessment of Britain's plan to curb borrowing in the coming years, stating that he would maintain this course in his upcoming budget statement on October 28.
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