21
Wed, May

UK Intensifies Measures Against Russia's Covert Maritime Operations with Latest Sanctions

UK Intensifies Measures Against Russia's Covert Maritime Operations with Latest Sanctions

World Maritime
UK Intensifies Measures Against Russia's Covert Maritime Operations with Latest Sanctions

The UK has rolled out fresh initiatives aimed at disrupting Russia’s clandestine shipping operations and oil trade, as part of a sweeping package of 100 sanctions.This latest round specifically targets 18 additional vessels linked to Russia’s shadow fleet, building on the Prime Minister’s earlier declaration during his visit to Kyiv, where he introduced 110 related sanctions.

Meanwhile,the EU has also stepped up its game with its largest sanctions package yet—numbering 189 vessels in total. A significant highlight is that John Michael Ormerod has become the first British shipping executive sanctioned for facilitating vessel procurement for this shadow fleet. Additionally, two Russian tanker captains have found themselves on the sanctions list.

In collaboration with G7 allies, the UK government is reassessing the Oil Price Cap mechanism currently pegged at $60 per barrel for crude oil. The goal here is to adjust this cap closer to production costs to directly undermine Russia’s oil revenue.

These maritime restrictions are part of a larger strategy aimed at applying economic pressure on Russia—a strategy that appears to be yielding results. Recent reports suggest that non-defense sectors within Russia are now facing recessionary conditions,with security and defense expenditures ballooning to over 40% of thier federal budget.

On a similar note, EU efforts have led to an impressive rise in sanctioned ships—from just 79 at the end of last year to a staggering 342 today. Foreign Secretary David Lammy reiterated Britain’s determination not only to maintain pressure but also emphasized that any delays in peace negotiations would only strengthen their resolve: “We’ve made it clear—any hesitation will only fuel our commitment towards supporting ukraine and tightening our grip on Putin’s war machinery.”

This latest sanctions package doesn’t stop there; it also includes measures against 46 financial institutions implicated in evading existing restrictions along with entities like St. Petersburg Currency Exchange and the Russian Deposit Insurance Agency.

These coordinated global actions aim not just at isolating Russia economically but also at crippling its maritime trading capabilities—especially by limiting its ability to profit from oil exports through alternative shipping routes.

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