The United Kingdom has imposed a major new round of sanctions targeting Russia’s so-called 'shadow fleet'—a network of oil tankers used to secretly export Russian oil and evade existing international restrictions. The measures hit 135 tankers and two companies, including a Dubai-based trading arm of Lukoil, aiming to choke off an estimated $24 billion in oil revenues that help fund Russia’s war in Ukraine. These sanctions are part of a broader Western effort, coordinated with the EU, to disrupt the infrastructure and facilitators behind Russia’s illicit oil trade. The move is expected to impact global shipping and insurance markets, as well as increase scrutiny on companies and registries linked to the shadow fleet. UK officials say the crackdown is designed to further drain President Putin’s war chest and restrict Russia’s access to critical energy funding.
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