UK sanctions ten ships from Russia’s ‘shadow fleet’

U.S. Secretary of State Antony Blinken (left) listens to U.Ok. International Secretary David Lammy (proper) in the course of the Fourth Crimea Platform Leaders Summit in Kyiv, Ukraine, Sept. 11, 2024. | Picture credit score: AP

The UK authorities on Wednesday introduced sanctions towards a “ghost fleet” of ten Russian tankers it says have been evading Western oil sanctions.

The announcement coincided with a visit to kyiv by UK International Secretary David Lammy and US Secretary of State Antony Blinken, who’s on a tour of the UK and continental Europe. The announcement comes shortly after Tuesday’s announcement of sanctions by the UK, France and Germany, which introduced restrictions on Iran for supplying missiles to Russia.

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The European Union (EU) and the Group of Seven (G-7), together with the UK, are among the many international locations which have participated within the US-led sanctions on Russian oil, with oil being a key supply of funding for Russia’s struggle with Ukraine. The G-7 instituted a value cap of $60 per barrel of Russian oil in December 2022.

Wednesday’s sanctions convey the overall variety of ships banned from the UK to 25. Oil tankers won’t be able to dock in British ports.

“Putin’s struggle machine is funded by a shadowy and illicit financial system that this administration is dedicated to destabilizing,” Lammy stated.

Three of the vessels included within the new sanctions checklist, Nikolai Zuyev, New Asia and Zaliv AnivaBetween them, they’ve transported greater than $5 billion of Russian oil since Russia invaded Ukraine in February 2022, the UK authorities stated.

“Russia has been pressured to spend greater than $8 billion to construct up this phantom fleet. However with sanctioned tankers stranded and unable to load oil, we’re decided that Putin’s funding can be a pricey misstep for the Kremlin,” Lammy added.

India is among the largest patrons of Russian oil, a call New Delhi has defended on grounds of nationwide curiosity and market dynamics. The difficulty was mentioned by Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy throughout Modi’s go to to Kiev in August, when the Ukrainian president had urged India to cease purchases from Moscow.