The UK has introduced 137 new sanctions targeting Russia’s key energy and oil refining sectors. In particular, the restrictions cover 135 oil tankers belonging to the Russian shadow fleet, which since the beginning of 2024 has illegally transported cargo worth $24 billion. About this it is said in a statement from the United Kingdom government.
Companies related to the logistics of Russian oil were also sanctioned.
Among them:
- Intershipping Services LLC, which was responsible for registering shadow fleet vessels under the Gabonese flag. These ships transported products on behalf of Russia worth up to 10 billion dollars a year;
- Litasco Middle East DMCC is a company linked to the Russian oil corporation Lukoil due to its ongoing involvement in the transportation of large volumes of Russian oil using shadow fleet vessels.
“The new sanctions will further dismantle (Russian President Vladimir) Putin’s shadow fleet and deplete Russia’s military fund of critical oil revenues. As long as Putin continues to delay and postpone serious peace talks, we will not stand idly by. We will continue to use the full force of our sanctions regime to increase economic pressure at every turn and stand shoulder to shoulder with Ukraine.”, – said the Minister of Foreign Affairs of Great Britain David Lammy.
It will be recalled that on July 21, in close coordination with the European Union, the British government decided to lower the maximum price for crude oil from $60 to $47.60 per barrel. This measure directly affects Russia’s oil revenues, which by May 2025 have already declined by 35% year-on-year.
The new price limit is expected to reduce the market value of Muscovite oil, limit financial receipts to the Kremlin’s military budget and increase economic pressure on the Russian Federation in response to its aggression against Ukraine.
