UK sanctions 10 ships in crackdown on Russia’s oil fleet

The UK has intensified its efforts to disrupt Russia's oil exports, which are crucial for funding its military operations in Ukraine. The Foreign Office has imposed sanctions on 10 ships identified as key players in the illicit oil trade. These vessels, described as 'high-volume offenders,' have been instrumental in transporting significant amounts of Russian oil, with three of them alone carrying over $5 billion worth since the onset of the invasion in February 2022. The sanctions are part of a broader strategy to undermine Russia's economic capabilities, particularly its ability to generate revenue from oil exports. The UK government, alongside international partners, aims to send a clear message that the global community stands united against Russia's actions. The shadow fleet, which has emerged as a major loophole in sanctions, has reportedly cost Russia over $8 billion to assemble, but the UK is determined to make this investment a costly error for the Kremlin. In addition to barring the sanctioned ships from UK ports, the measures will prevent them from registering in the UK ship register. This latest round of sanctions brings the total number of targeted vessels to 25, following a call to action in July to halt the trade. The UK has already deprived Russia of more than $400 billion in assets and revenues since the beginning of the conflict, equivalent to four additional years of funding for the invasion. The ongoing sanctions reflect a commitment to counteract Russia's attempts to evade economic restrictions and highlight the importance of international cooperation in addressing the challenges posed by the shadow fleet. The UK continues to take a firm stance against illicit oil trading, reinforcing its support for Ukraine in the face of ongoing aggression.