Shafaq News – London
The United Kingdom on Monday unveiled a sweeping package of 137 newsanctions targeting Russia’s oil and energy sectors.
The measures, announced by the UK Foreign Office, are aimed at curbingthe activities of Russia’s so-called "shadow fleet" of tankers andhitting entities that help Moscow circumvent international restrictions.
“This new wave of sanctions will further dismantle Putin’s shadow fleetand drain Russia’s war chest of its critical oil revenues,” said ForeignSecretary David Lammy, adding that the UK would "continue to use the fullmight of our sanctions regime to ratchet up economic pressure at every turn andstand side by side with Ukraine."
Among the most significant actions, the UK is sanctioning 135 vesselsused in covert operations to ship Russian oil in defiance of internationalprice caps. According to UK authorities, these ships have carried an estimated$24 billion in oil exports since the beginning of 2024, using deceptivepractices to mask the cargo’s origin and destination.
Two companies were specifically named for facilitating these operations:INTERSHIPPING SERVICES LLC, accused of registering shadow fleet vessels underthe Gabonese flag and enabling the transport of up to $10 billion in goodsannually; and LITASCO MIDDLE EAST DMCC, linked to the Russian oil giant Lukoil,which allegedly plays a key role in moving large volumes of Russian oil usingthe shadow fleet.
The UK also moved in coordination with the European Union to lower theCrude Oil Price Cap, further constraining Russia’s ability to profit frominternational oil sales.
The UK government says these new restrictions are designed to disruptthe flow of oil money into Russia’s. Since the beginning of the full-scaleinvasion in 2022, Western sanctions have dented Russia’s oil and gas revenues,with officials estimating the sector has lost over one-third of its value injust three years.
“The sanctions and the cost of Putin’s barbaric war are causing theRussian economy to stall – with the wealth fund hollowed out, inflation risingand government spending on defence and security spiralling,” the UK statementnoted.
The new sanctions are also framed as a key component of Prime MinisterKeir Starmer’s broader “Plan for Change,” with officials emphasizing thatnational and global security remain top priorities.
While the Kremlin has yet to respond to the latest UK measures, previouswaves of sanctions have prompted Moscow to intensify efforts to bypassrestrictions, including via state-backed traders, opaque maritime networks, andalternative payment systems.
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