UK Sanctions 40 More Russian Oil Tankers In Largest Crackdown Since 2022

The UK has sanctioned 40 more “shadow fleet” oil tankers transporting Russian crude, to cut off a key revenue source funding the war in Ukraine.

These vessels have carried over $5 billion worth of Russian oil in the past six months. With this latest action, the UK has now blacklisted 133 Russian oil tankers, the highest number among European nations.

The new sanctions also target the suppliers and producers of electronics, machine tools, and dual-use goods essential for Russia’s war efforts.

These companies, operating in China, Turkey, Thailand, India, and Central Asia, provide critical components like microprocessors used in weapons systems.

The UK government accuses them of enabling Russia to sustain its military operations despite ongoing international restrictions.

This is the first time, the UK is using new powers to sanction foreign financial institutions aiding Russia.

The Kyrgyzstan-based OJSC Keremet bank has been blacklisted for helping Russia bypass global restrictions and access the international financial system to support its war efforts.

The UK has also imposed sanctions on the Defence Minister of North Korea, No Kwang Chol, and other senior military officials for their role in deploying over 11,000 North Korean troops to Russia.

Reports reveal that over 4,000 DPRK soldiers have died in the conflict. UK officials claim these forces are being used as “cannon fodder” in the ongoing war.

Among those sanctioned are Marat Mustafaev and Dinara Mustafaeva, accused of using their company, LLC Grant-Trade, to smuggle advanced European technology into Russia.

The UK government says this illegal trade has helped Russia bypass sanctions and continue building weapons.

The UK has also targeted 14 influential Russian figures, described as “New Kleptocrats”, who play a key role in Russia’s economy. Among them is one of Russia’s wealthiest individuals, Roman Trotsenko, with a net worth of £2.2 billion.

These individuals are accused of profiting from and supporting Russia’s war machine.

Foreign Secretary David Lammy said that the UK remains committed to supporting Ukraine and cutting Russia’s war funding. He stated that every disrupted supply chain and every financial asset blocked weakens Russia’s war efforts and strengthens Ukraine’s defence.

Reference: UK.gov

Source: Maritime Shipping News