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Yahoo
21-05-2025
- Business
- Yahoo
Britain, EU issue sweeping sanctions targeting Russia's shadow fleet of oil tankers
May 21 (UPI) -- Britain and the European Union have imposed sweeping sanctions targeting Russia, particularly its shadow fleet of oil tankers, over its war in Ukraine. Russia has been accused of operating a shadow fleet of hundreds of oil tankers to illegally sell its sanctioned products, shipping more than $24 billion worth of cargo since the start of last year. Britain earlier this month sanctioned 110 tankers belonging to this shadow fleet and added an additional 18 ships on Tuesday. The EU said its package of sanctions was its largest ever, and targeted 189 vessels. The Washington-based Brookings Institution think tank said in a recent report that Russia's shadow fleet consisted of 343 shipping vessels as of April 25. The two governments separately announced their tranches of sanctions, with Britain also blacklisting 46 financial institutions aiding Russia's sanction-evasion tactics, the St. Petersburg Currency Exchange and the Russian Deposit Insurance Agency. London also sanctioned British national John Michael Ormerod, whom it accuses of procuring ships for Russia's shadow fleet, as well as two Russian captains who operate its vessels. Britain described its punitive measures as targeting Russian President Vladimir Putin's supply chain of weapons systems that have been used in recent attacks killing dozens of Ukrainian civilians. It also sanctioned 14 members of the Social Design Agency, which conducts Russia-funded disinformation campaigns seeking to undermine the sovereignty, democracy and rule of law in Ukraine and worldwide. The EU similarly blacklisted operators of the shadow fleet vessels, as well as major Russian oil company Surgutneftegaz, 45 Russian companies and individuals involved in the Kremlin's military-industrial sector and those accused of looting cultural heritage in Crimea and the illegal exploitation of Ukrainian agricultural products. Thirty-one new entities have also been added to a list of dual-use goods and technologies subject to tighter export controls. To date, the EU has sanctioned more than 2,400 individuals and entities since Russia invaded Ukraine on Feb. 24, 2022. "While Putin feigns interest in peace, more sanctions are in the works," Kaja Kallas, the EU's top diplomat, said in a statement. "Russia's actions and those who enable Russia face severe consequences. The longer Russia persists with its illegal and brutal war, the tougher our response will be."
UPI
21-05-2025
- Business
- UPI
Britain, EU issue sweeping sanctions targeting Russia's shadow fleet of oil tankers
Britain and the European Union on Tuesday separately issued sweeping sanctions targeting the shadow fleet of vessels that Russian President Vladimir Putin is accused of using to evade sanctions and sell oil to fund his war against Ukraine. File Photo by Vyacheslav Prokofyev/EPA-EFE May 21 (UPI) -- Britain and the European Union have imposed sweeping sanctions targeting Russia, particularly its shadow fleet of oil tankers, over its war in Ukraine. Russia has been accused of operating a shadow fleet of hundreds of oil tankers to illegally sell its sanctioned products, shipping more than $24 billion worth of cargo since the start of last year. Britain earlier this month sanctioned 110 tankers belonging to this shadow fleet and added an additional 18 ships on Tuesday. The EU said its package of sanctions was its largest ever, and targeted 189 vessels. The Washington-based Brookings Institution think tank said in a recent report that Russia's shadow fleet consisted of 343 shipping vessels as of April 25. The two governments separately announced their tranches of sanctions, with Britain also blacklisting 46 financial institutions aiding Russia's sanction-evasion tactics, the St. Petersburg Currency Exchange and the Russian Deposit Insurance Agency. London also sanctioned British national John Michael Ormerod, whom it accuses of procuring ships for Russia's shadow fleet, as well as two Russian captains who operate its vessels. Britain described its punitive measures as targeting Russian President Vladimir Putin's supply chain of weapons systems that have been used in recent attacks killing dozens of Ukrainian civilians. It also sanctioned 14 members of the Social Design Agency, which conducts Russia-funded disinformation campaigns seeking to undermine the sovereignty, democracy and rule of law in Ukraine and worldwide. The EU similarly blacklisted operators of the shadow fleet vessels, as well as major Russian oil company Surgutneftegaz, 45 Russian companies and individuals involved in the Kremlin's military-industrial sector and those accused of looting cultural heritage in Crimea and the illegal exploitation of Ukrainian agricultural products. Thirty-one new entities have also been added to a list of dual-use goods and technologies subject to tighter export controls. To date, the EU has sanctioned more than 2,400 individuals and entities since Russia invaded Ukraine on Feb. 24, 2022. "While Putin feigns interest in peace, more sanctions are in the works," Kaja Kallas, the EU's top diplomat, said in a statement. "Russia's actions and those who enable Russia face severe consequences. The longer Russia persists with its illegal and brutal war, the tougher our response will be."
