Latest news with #Ormerod
Yahoo
20-05-2025
- Business
- Yahoo
Etonian financier ‘procured ships for Putin's shadow fleet'
An Eton-educated accountant has been sanctioned by the Government over procuring ships for Russia's 'shadow fleet'. John Michael Ormerod, a 74-year-old shipping industry veteran, furnished Moscow with 25 vessels that helped it avoid Western sanctions on global oil sales, according to an investigation by the Financial Times last year. The ships helped Russia earn at least $7.2 billion, the newspaper reported, carrying about 120 million barrels of oil. Announcing fresh sanctions on the fleet, a statement from the Foreign Office said: 'This action [against Mr Ormerod] imposes a personal cost on those who are supporting Russia's trade in oil.' Donald Trump has also threatened to impose 'secondary' sanctions on nations that purchase Russian oil, should Vladimir Putin not commit to peace with Ukraine. However, he pushed back on the idea of sanctioning Russia itself during a call with Ukrainian president Volodymyr Zelensky and five European leaders on Monday, Axios reported. Sources who were on the call – which came hours after he spoke with the Russian president – said some European leaders were 'shocked' and 'surprised' at the US president's response. In December 2022, the UK, US and EU blocked companies in the G7 from transporting Russian oil unless it was sold at a discount. This prompted Russia to establish a shadow fleet of about 400 old tankers registered in countries outside the organisation. The rusty fleet, flagged under nations including Gabon and Liberia, has allowed Moscow to skirt the impact of the sanctions intended to slash revenues from its energy exports. The ships carry vast cargoes of oil to willing purchasers in India, China and elsewhere. Efforts to sanction the vessels have been hampered by the difficulty of determining their ownership, which is often obscured through offshore corporate structures. According to the Financial Times, Mr Ormerod created a network of offshore companies in the Marshall Islands to buy the 25 ships. The $700 million needed to fund the purchases was provided by Eiger Shipping DMCC, a Dubai-based subsidiary of Russia's state-owned Lukoil, for the purposes of chartering the vessels. Although Lukoil is under Western sanctions, Eiger Shipping DMCC is not. Dubai-based companies are also not bound by the G7 sanctions so long as they do not use Western financing or services. On Tuesday, the Foreign Office announced it had sanctioned Eiger Shipping, under its new name Rhodania Shipping SA. In a statement to the Financial Times last year, Mr Ormerod's lawyers said he was approached by Eiger Shipping in late 2022 to purchase ships for their 'general trade'. He did 'extensive due diligence' to ensure the proposed purchases would not violate sanctions, they added. The sanctions announced today will freeze Mr Ormerod's UK assets, barring him from accessing bank accounts and other sources of wealth. Since the war began, Russia has earned around £760 billion from sales of oil, gas and coal, according to the Centre for Energy and Clean Air (CREA), a Helsinki-based think tank. That is more than double the £300 billion provided and pledged to Ukraine by Europe and the US. Western sanctions on the shadow fleet have started to curtail its operations. Before leaving office, Joe Biden sanctioned 155 tankers, effectively knocking them out of business. On Tuesday, the UK announced sanctions on 18 vessels, adding to the 100 or so already targeted. In March, Russia saw a 36 per cent month-on-month increase for oil on tankers registered in the G7, subjecting its profits to the $60 Western price cap. Moscow has begun to respond more aggressively. Last week, Russian fighter jets briefly entered Estonian airspace after one shadow fleet tanker was detained. Credit: X/@M_Simonyan A Greek tanker was later seized after briefly entering Russian territorial waters on a pre-approved route out of the Gulf of Finland. 'This is definitely connected to the fact that we have started to harass Russia's shadow fleet,' said Margus Tsahkna, Estonia's foreign minister. In its statement on Tuesday, the Foreign Office added that it was working with allies to review the $60 oil price cap. The EU, which imposed its 17th round of sanctions on Russia on Tuesday, is likely to propose a $50 cap, according to recent reports. The current benchmark for a barrel of Brent crude stands at $65. US leadership, analysts argue, would be critical in ratcheting up sanctions to effectively crippled Russia's energy export business. However following his one-to-one call with Putin on Monday, the US president gave little sign he intends to follow through with his previous 'secondary' sanctions threats, despite the Russian dictator rebuffing his calls for a 30-day ceasefire. He described the 'tone' and 'spirit' of the call as 'excellent'. In a later statement posted on his X account, Mr Zelensky said: 'It is crucial for all of us that the United States does not distance itself from the talks and the pursuit of peace.' 'If the Russians are not ready to stop the killings, there must be stronger sanctions,' he added. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
BBC News
26-04-2025
- General
- BBC News
Kent: Kittens found in box near Canterbury orchard
Two kittens continue to be cared for after being found abandoned in a plastic box in a Kent orchard, an animal charity RSPCA investigators say they are still trying to find out what led to the two black cats, believed to be five months old, being left under a tree in a orchard near Mill Lane in Canterbury on 14 female kittens, one of which is pregnant, have now been taken to the Canterbury and district branch of the Ormerod, an investigator for the charity, said: "This must have been very stressful for these poor kittens to be abandoned in this way." Ms Ormerod said: "On the day they were found temperatures were warm, so being confined in a plastic box with no water these cats would have been very hot and stressed."We are grateful to the member of the public who found them and took them to a place of safety and we are appealing for anyone who knows anything about them to get in touch."Both kittens are being cared for at our Canterbury branch and there are concerns for one of them who is sadly already pregnant, which shows the importance of neutering cats at four-months old." A spokesperson for the RSPCA said the cats, named April and Sgt Major by staff, had been sealed in the box and the previous owners had pierced two air holes in the plastic number of pets being abandoned nationwide had risen by almost 40% since the Covid-19 pandemic, the charity with information about the incident is asked to contact the RSPCA.
BBC News
21-02-2025
- Politics
- BBC News
Pendle: Councillor who owes £4k in council tax resigns
A Lancashire councillor has resigned after it was revealed he owed almost £4,000 in council tax and had missed dozens of Ormerod was Conservative councillor for Colne's Vivary Bridge ward until his resignation, which was announced on Thursday by Pendle Borough Council in an email to other this week it was revealed Ormerod owed £3,835 in unpaid council tax to across three years. He had also attended just three council meetings since being elected in May council confirmed the resignation earlier. Lib Dem councillor David Whipp had earlier called on Ormerod to stand down. He said he had missed 27 council meetings and also asked why the Conservative Party had chosen him as a candidate "who was £1,700 in arrears at the time of his election".On Thursday Paul Preston, the council's democratic services manager, sent an email to councillors seen by the Local Democracy Reporting Service. It said Ormerod has resigned "with immediate effect".Both Ormerod and Pendle Council's Conservative group have been contacted for comment but have not Vivary Bridge ward in Colne already has one by-election due following the resignation of another Pendle Conservative councillor – Kieran McGladdery – after he claimed his group failed to back stronger taxi safety measures at a council meeting in December.A second by-election is expected but a date is yet to be confirmed. Listen to the best of BBC Radio Lancashire on BBC Sounds and follow BBC Lancashire on Facebook, X and Instagram and watch BBC North West Tonight on BBC iPlayer.
Yahoo
18-02-2025
- Politics
- Yahoo
Councillor found to owe £4k in unpaid council tax
A councillor in Lancashire has been found to owe almost £4,000 in council tax, meaning he is now unable to vote on the authority's budget for this year as a result. Conservative Tim Ormerod who represents Vivary Bridge ward, owes £3,835 in total from the past three years, Pendle Borough Council confirmed. Liberal Democrat group leader David Whipp has called for his immediate resignation, adding: "This is a scandal." The BBC has contacted Mr Ormerod and the Conservatives for a comment. Mr Ormerod was elected to the seat in May 2023 and has attended two committee meetings and one full council meeting since December 2023. If a councillor fails to attend meetings for six months, unless this had been approved by the council, they automatically cease to be a councillor. Mr Whipp said: "This is a scandal. Councillor Ormerod has only attended two meetings in the past 14 months, the bare minimum to avoid disqualification for non-attendance. "Residents rightly want answers as to why this situation has been allowed for three years." The council's director of resources Karen Spencer said: "Section 106 of the Local Government Finance Act 1992 makes it an offence for a councillor in council tax arrears of at least two months to vote at a council meeting where financial matters relating to council tax are being considered." Listen to the best of BBC Radio Lancashire on BBC Sounds and follow BBC Lancashire on Facebook, X and Instagram and watch BBC North West Tonight on BBC iPlayer.
BBC News
18-02-2025
- Politics
- BBC News
Pendle councillor found to owe £4k in unpaid council tax
A councillor in Lancashire has been found to owe almost £4,000 in council tax, meaning he is now unable to vote on the authority's budget for this year as a Tim Ormerod who represents Vivary Bridge ward, owes £3,835 in total from the past three years, Pendle Borough Council Democrat group leader David Whipp has called for his immediate resignation, adding: "This is a scandal."The BBC has contacted Mr Ormerod and the Conservatives for a comment. Mr Ormerod was elected to the seat in May 2023 and has attended two committee meetings and one full council meeting since December 2023. 'Residents want answers' If a councillor fails to attend meetings for six months, unless this had been approved by the council, they automatically cease to be a Whipp said: "This is a scandal. Councillor Ormerod has only attended two meetings in the past 14 months, the bare minimum to avoid disqualification for non-attendance."Residents rightly want answers as to why this situation has been allowed for three years."The council's director of resources Karen Spencer said: "Section 106 of the Local Government Finance Act 1992 makes it an offence for a councillor in council tax arrears of at least two months to vote at a council meeting where financial matters relating to council tax are being considered." Listen to the best of BBC Radio Lancashire on BBC Sounds and follow BBC Lancashire on Facebook, X and Instagram and watch BBC North West Tonight on BBC iPlayer.
