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The Hindu
12 hours ago
- Business
- The Hindu
U.K. slaps new sanctions on Russia shadow fleet
The U.K. on Tuesday (June 17, 2025) tightened its sanctions on Russia's so-called shadow fleet, imposing bans on 20 more ships and blacklisting 10 other people or bodies involved in energy and shipping. Security analysts say the fleet of ageing vessels is used by Russia to circumvent international sanctions that ban it from selling oil. Hundreds of vessels have now been sanctioned by the European Union and the U.K. since Russian President Vladimir Putin ordered the invasion of Ukraine in February 2022. The U.K.'s new additions to its assets freeze list include the Orion Star group and Rosneft Marine (U.K.), both said to be significant to Russia's energy sector, as well as the deep-sea research unit at the Russian defence ministry. Two U.K. residents, Vladimir Pristoupa and Olech Tkacz, were also sanctioned, accused of operating a shadowy network of shell companies that London said has funnelled more than $120 million of high-tech electronics to Russia. Although Russia's economy has not collapsed under the sanctions, officials say they are having an impact. 'These sanctions strike right at the heart of Mr. Putin's war machine, choking off his ability to continue his barbaric war in Ukraine,' Prime Minister Keir Starmer said in a statement. 'We will not hesitate to keep tightening the screws,' he said. Downing Street insisted that 'Russia's economy is slowing', saying sanctions 'have deprived Russia of at least $450 billion'. 'By one estimate, that's equivalent to around two more years of funding for the invasion,' it added. The U.K. alone has sanctioned over 2,300 individuals, entities and ships since the start of the invasion. Mr. Starmer said he wanted to hone the new sanctions with Britain's G7 partners meeting this week in Canada. 'We should take this moment to increase economic pressure and show President Putin it is in his – and Russia's interests – to demonstrate he is serious about peace.' With peace talks stalling, Ukrainian President Volodymyr Zelenskyy had hoped to press U.S. President Donald Trump to step up sanctions on Russia at the G7 summit. But as the conflict between Iran and Israel escalated, Mr. Trump left the summit early without meeting Mr. Zelenskyy, saying he had 'big stuff' to do in Washington. And he has proved reluctant about new sanctions. The EU has imposed 18 rounds of sanctions on Russia. Downing Street said 'new information' showed that Western sanctions were creating 'significant challenges' for Russian state enterprises, including funding shortfalls, delays in major projects, and growing debt due to high interest rates. Foreign Minister David Lammy said the new U.K. sanctions 'show we will systematically dismantle his (Mr. Putin's) dangerous shadow fleet, starve his war machine, and support Ukraine to defend itself'.
Arab News
19 hours ago
- Business
- Arab News
UK slaps new sanctions on Russia shadow fleet
LONDON: The UK on Tuesday tightened its sanctions on Russia's so-called shadow fleet, slapping bans on 20 more ships and blacklisting 10 other people or bodies involved in energy and shipping. Security analysts say the fleet of aging vessels is used by Russia to circumvent international sanctions that ban it from selling oil. Hundreds of vessels have now been sanctioned by the European Union and the UK since Russian President Vladimir Putin ordered the invasion of Ukraine in February 2022. The UK's new additions to its assets freeze list include the Orion Star group and Rosneft Marine (UK), both said to be significant to Russia's energy sector, as well as the deep-sea research unit at the Russian defense ministry. Although Russia's economy has not collapsed under the sanctions, officials insist they are having an impact. 'Russia's economy is slowing and the Kremlin has been forced to make increasingly painful trade-offs to support its war effort,' Downing Street said in a statement. It claimed the sanctions imposed in the last three years 'have deprived Russia of at least $450 billion.' 'By one estimate, that's equivalent to around two more years of funding for the invasion,' it added. The UK alone has sanctioned over 2,300 individuals, entities and ships since the start of the invasion. UK Prime Minister Keir Starmer said he wanted to hone the new sanctions with Britain's other G7 partners meeting this week in Canada. 'We should take this moment to increase economic pressure and show President Putin it is in his — and Russia's interests — to demonstrate he is serious about peace.' With peace talks stalling, Ukrainian President Volodymyr Zelensky had hoped to press US counterpart Donald Trump to step up sanctions on Russia at the G7 summit. But as the conflict between Iran and Israel escalated, Trump left the summit early without meeting Zelensky, saying he had 'big stuff' to do in Washington. And he has proved reluctant about new sanctions. The EU has imposed 18 rounds of sanctions on Russia. Downing Street said 'new information' showed Western were creating 'significant challenges' for Russian state enterprises, including funding shortfalls, delays in major projects, and growing debt due to high interest rates.
