The United Kingdom has imposed a major new round of sanctions targeting Russia’s so-called 'shadow fleet'—a network of 135 oil tankers and two associated companies used to secretly transport Russian oil and evade existing international restrictions. These measures are designed to disrupt the flow of oil revenue that helps fund Russia’s war in Ukraine, with the UK government estimating the fleet has moved $24 billion worth of oil since early 2024. The sanctions also target Lukoil’s Dubai-based trading arm and a UAE-based shipping company, reflecting a broader Western effort to clamp down on the infrastructure enabling Russia’s oil exports. The move is part of a coordinated push by the UK and EU to tighten enforcement and close loopholes in the sanctions regime. Analysts say the crackdown could impact global shipping and insurance markets, while raising questions about the future of Russia’s oil export strategies.
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