UK hits Russia's shadow fleet with new sanctions

The UK has added 135 oil tankers from Russia's shadow fleet to its sanctions list. These vessels have been used by Moscow to secretly transport crude oil.

According to the British government, the sanctioned tankers have carried an estimated $24 billion worth of Russian oil since the beginning of 2024.

In addition, sanctions were imposed on two companies linked to the ownership of these vessels. One of them is reportedly connected to the Russian oil giant Lukoil.

"New sanctions will further dismantle Putin's shadow fleet and drain Russia's war chest of its critical oil revenues," said UK Foreign Secretary David Lammy.

The UK government also emphasized that Western sanctions have already slashed Russia's oil and gas revenues by one-third since 2022.

Sanctions against Russia's shadow fleet

Hundreds of covert oil tankers operate across international waters under flags of convenience and opaque ownership structures to bypass global sanctions imposed on Russia, Iran, and North Korea.

According to Ukraine's military intelligence (HUR), as of February, Russia's shadow fleet included up to 1,000 mostly aging vessels with a combined deadweight capacity exceeding 100 million tons, used for exporting oil and petroleum products.

In May, the European Union adopted its 17th sanctions package against Russia, targeting nearly 200 ships from the so-called shadow fleet.

Just recently, EU member state ambassadors reached agreement on an 18th sanctions package, which will also include a lower price cap on Russian oil exports.

In June, the UK government introduced a new round of sanctions focused specifically on Russia's shadow fleet and companies facilitating the Kremlin's military aggression against Ukraine.

Australia also imposed its first-ever sanctions targeting Russia's shadow fleet, blacklisting dozens of tankers involved in financing Moscow's war effort.

For a deeper look at how Russia's shadow fleet operates, see the full RBC-Ukraine report.