Britain to announce 'largest ever' sanctions package against Russia's shadow fleet

Record sanctions package

Downing Street has pointed out that Russia's shadow fleet will suffer from the largest sanctions package in history, increasing pressure on (Russian President Vladimir) Putin and protecting the critically important national infrastructure of the UK and Europe.

It is noted that Starmer will make this announcement on May 9 at the summit of representatives from the countries that are members of the Joint Expeditionary Force (JEF) in the Norwegian capital, Oslo.

The JEF includes 10 countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, the Netherlands, Sweden, and the UK.

London expects this to further strain Russia's economy, which is reeling from falling oil prices and the high cost of war.

Targeted restrictions

The British government explained that the main sanctions package will focus on the old and dangerous shadow fleet transporting Russian oil.

"Reckless actions of the fleet pose a costly threat to the UK and Euro-Atlantic critical national infrastructure and the environment. New package will mean the UK has sanctioned more shadow fleet ships than any other country," said Starmer's office.

On May 9, the British side will impose sanctions on up to 100 oil tankers, which are a key part of Putin's shadow fleet and are responsible for transporting goods worth over $24 billion since the beginning of 2024.

Threats from Russia's shadow fleet

As noted by Downing Street, operations involving the shadow fleet not only help finance Russia's illegal war against Ukraine but also damage critical national infrastructure due to reckless maritime activities in Europe.

"Protecting subsea infrastructure from malicious and careless incidents is expected to be a key part of Leaders’ discussions at the Joint Expeditionary Force summit in Oslo today," reads a statement from the UK government.

It is also mentioned that these actions came after in January, the JEF activated a forward response system, led by the UK, known as Nordic Warden, to track potential threats to underwater infrastructure and monitor Russia's shadow fleet after reports of damage to a major underwater cable in the Baltic Sea.

London points out that underwater infrastructure is a vital communication source for the UK, transmitting 99% of international telecommunications data and crucial energy sources like electricity, oil, and gas.

"The infrastructure is at risk of being disrupted by unseaworthy vessels lacking safety certification, the right technology to avoid the infrastructure, or purposefully disabling locator technology," the statement from Starmer's office concludes.

Who else is targeted by sanctions

In addition to a large number of shadow fleet tankers, the new British sanctions, as expected by London, will also target those behind the shadow fleet.

"Today’s action further demonstrates that there is no place to hide for those who help fund Putin’s war machine," the British government emphasizes.

According to UK Prime Minister Starmer, every step taken to increase pressure on Russia and achieve a just and lasting peace in Ukraine is another step toward security and prosperity in the UK.

"The threat from Russia to our national security cannot be underestimated, that is why we will do everything in our power to destroy his shadow fleet operation, starve his war machine of oil revenues and protect the subsea infrastructure that we rely on for our everyday lives," he said.

Role of sanction restrictions

The British government also explained that, due to Western sanctions, Russia's revenues from oil and gas extraction have been falling annually since 2022, showing a loss of more than a third of their value over the past three years.

"Sanctions and the cost of his barbaric war are causing the Russian economy to stall – with the wealth fund hollowed out, inflation rising and government spend on defence and security spiralling," added Starmer's office.

Other announcements expected

It is anticipated that on May 9, JEF leaders will also announce an expanded partnership with Ukraine, which will bring the JEF group – some of Ukraine's staunchest supporters – even closer to Ukraine.

"This will further support Ukrainian Armed Forces through intensive training exercises, increasing interoperability across military platforms and enhancing countering disinformation support as well as allowing JEF Nations to learn from the battlefield experience of Ukraine’s armed forces," the UK government informs.

According to the Ukrainian Ministry of Defense's Main Intelligence Directorate, Russia has formed a powerful shadow fleet consisting of up to a thousand mostly outdated vessels with a total deadweight of over 100 million tons.

Recently, Bloomberg reported that the European Union is preparing a new sanctions package against Russia, targeting its so-called "shadow fleet." This will affect hundreds of tankers that the Kremlin uses to bypass the oil embargo.