G7 Ukraine Support: Trudeau Says More Could Be Done
- The United Kingdom has imposed sanctions on 20 vessels allegedly part of Russia's "ghost fleet," wich is used to export oil, and against 10 individuals and entities connected...
- Hundreds of ships, frequently enough older vessels operating under foreign flags, have already been sanctioned by the UK and the European Union.
- The new sanctions also target six entities linked to finance, defense, and energy, including a British subsidiary of Rosneft Marine, itself owned by the Russian hydrocarbon giant Rosneft.
The United kingdom takes decisive action, sanctioning 20 vessels of Russia’s “ghost fleet” and targeting key individuals and entities within the energy sector. This move, announced amidst the G7 summit, directly aims to cripple Vladimir Putin’s war machine by limiting its access to funds.The UK has already sanctioned thousands, depriving Russia of hundreds of billions. These sanctions target those that are assisting Russia with the war, including entities tied to finance, defense, and energy.London is committed to strengthening the oil price cap to further squeeze Russia’s revenues. The UK’s role is crucial in limiting Russia’s energy role. Read further on News Directory 3 for up-to-date data. Discover what’s next as international partnerships evolve.
UK Sanctions Russian ‘Ghost Fleet’ Over Oil Exports, Energy Role
The United Kingdom has imposed sanctions on 20 vessels allegedly part of Russia’s “ghost fleet,” wich is used to export oil, and against 10 individuals and entities connected to the energy sector. Prime Minister Keir Starmer, currently at the G7 summit in Canada, said the sanctions directly target Vladimir Putin’s war machine, aiming to stifle its ability to continue the war in Ukraine.
Hundreds of ships, frequently enough older vessels operating under foreign flags, have already been sanctioned by the UK and the European Union. Moscow uses these ships to transport oil, circumventing Western sanctions.
The new sanctions also target six entities linked to finance, defense, and energy, including a British subsidiary of Rosneft Marine, itself owned by the Russian hydrocarbon giant Rosneft. Orion Star and Valegro are also targeted for their role in crewing and managing the “ghost fleet” vessels, according to Downing Street. The Defense Ministry’s Main Directorate of Deep-Sea Research (GUGI),a special division of the Russian Navy,is also sanctioned.
Among the four individuals sanctioned, Vladimir Pristoupa and Olech Tkacz, who reside in the UK, are accused of running a network of shell companies and funneling more than $120 million in electronic equipment to Russia. Their assets are subject to freezes.
London also stated its intention to collaborate with partners to strengthen the oil price cap, aiming to hit Russia’s oil revenues while ensuring energy market stability.
To date, the UK has sanctioned 2,300 individuals, entities, and ships in response to russia’s invasion of Ukraine. According to London, sanctions have deprived Russia of 450 billion pounds (528 billion euros) as the invasion in February 2022. The UK’s role in enforcing sanctions is key to limiting Russia’s energy role and access to funds.
What’s next
The UK plans to continue working with international partners to tighten existing sanctions and explore further measures to limit Russia’s financial resources and ability to wage war.