UK Rolls Out “Largest Ever” Sanction Package Targeting Shadow Tankers

The UK is moving forward with another round of sanctions against Russian entities and the shadow fleet in what Prime Minister Keir Starmer called the “largest ever sanctions.” The announcement came as the UK was meeting in Norway with colleagues in the 10-nation Joint Expeditionary Force to discuss security issues for Northern Europe.

“The shadow fleet operation, masterminded by Putin’s cronies, is not just bankrolling the Kremlin’s illegal war in Ukraine - the fleet’s languishing vessels are known to be damaging critical national infrastructure through reckless seafaring in Europe,” the UK said reporting it has listed 100 additional tankers. The UK also listed one Russian-flagged offshore service vessel, which it said is benefiting from supporting the Russian government.

The UK now attests to having sanctioned more shadow fleet ships than any other country. In December 2024, it also imposed sanctions against 133 tankers. The EU has also moved aggressively with its sanctions and reported this week it is working on a new sanctions package including more than 100 tankers. When the new sanctions are enacted, the EU will have sanctioned more than 300 tankers.

In addition to the vessels, the UK listed five executives working in the Russian energy sector who it says are supporting and benefitting from the oil sales. It is also listing two energy companies, BX Energy and Nord Axis, and added Norwegian insurance company Romarine and Russian insurance company Soglasie to the sanctions list.

The UK describes the shadow fleet as “decrepit and dangerous,” saying it was also moving to protect Europe’s infrastructure. It cites the damage caused to undersea assets by the tankers while highlighting the efforts of the Joint Expeditionary Force to monitor key infrastructure. Member nations include Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, the Netherlands, Sweden, and the UK.

In January, the group activated a tracking system known as Nordic Warden developed by the UK. It is being used to monitor activity in a region that includes parts of the English Channel, the North Sea, Kattegat, and the Baltic. NATO also moved along with its member nations to increase monitoring in the Baltic after the incidents that damaged the undersea cables.

The UK highlights that the drop in oil prices is putting further pressure on the Russian economy as the costs of the war have increased.

A new report from S&P Global, however, shows that more Russian oil is moving on tankers owned or operated within the G7 as the price of oil has fallen below the price cap. S&P Global Commodities at Sea and Maritime Intelligence Risk Suite data shows that almost 1.3 million barrels a day were being lifted by the ships from the G7 nations, the highest since March 2024. They are also reporting that G7-linked tankers are carrying more Russian oil from the Urals than non-G7 tankers, the first time this occurred since July 2023, according to S&P.

The EU is expected to move ahead with its next round of sanctions in June and is reported to be looking to coordinate it with a similar action by the United States. Donald Trump has threatened to increase sanctions on Russia if they cannot achieve progress with the ceasefire agreement between Russia and Ukraine.