UK imposes 137 new sanctions on Russia

The UK announces a new wave of sanctions aimed at crippling Russia's oil export capabilities.

UK increases pressure on Russia with new sanctions

The United Kingdom has officially imposed new sanctions targeting Russia’s oil export sector, affecting 137 entities tied to what officials refer to as the Kremlin’s "shadow fleet." This fleet has been instrumental in circumventing Western price caps placed on Russian oil. Announced by UK Foreign Secretary David Lammy, the sanctions are designed to prevent Russia from financing its ongoing military operations in Ukraine. Among those affected are 135 ships believed to have transported around $24 billion in oil exports since early 2024. Additional targets include companies like Intershipping LLC, accused of disguising Russian tankers under foreign flags. Lammy emphasized that these sanctions are a step toward dismantling the financial resources supporting Russia's military actions.

These new sanctions demonstrate the UK’s firm stance on diminishing Russia's financial capabilities, especially concerning its oil revenue. By accumulating pressure from both sanctions and enforcement of price caps, the UK aims to disrupt Russia's funding mechanism for the war. This coordinated effort with EU allies signifies a sustained commitment to holding Russia accountable while concurrently attempting to maintain stability in global oil supply. However, the long-term effectiveness of these measures will depend on international cooperation and the ability to contain efforts from Russia to adapt to these economic constraints.

Highlights

The effectiveness of these sanctions will likely hinge on the cooperation of international partners.