Syed Rahman details the latest measures
In a new wave of sanctions, the UK government has further targeted Russia’s oil, shipping and military sectors.
The 30 new sanctions were imposed yesterday, following Russian attacks on Kyiv hours earlier.
The government has announced that it has targeted 20 oil tankers in Russian President Vladimir Putin's so-called shadow fleet, as well as the crewing companies Orion Star Group LLC and Valegro LLC-FZ for allegedly enabling the illicit oil trade.
The decision comes just weeks after the insurers Allianz Commercial warned that more than 600 tankers are now involved in carrying Russian oil in breach of international sanctions imposed after Russia’s 2022 invasion of Ukraine. The UK government has said it intends to tighten the oil price cap to hurt Russia's oil revenues.
The UK has also announced that it has sanctioned the Russian military agency that directs the country's underwater intelligence-gathering operations. This has been done in an attempt to protect against attacks on subsea infrastructure.
The assets of UK residents Vladimir Pristoupa and Olech Tkacz have been frozen. This is in response to them allegedly operating a network of shell companies and moving more than $120 million-worth of electronics to Russia. Many of these electronics are on the common high-priority goods list of Western items critical to Russian military systems. It is the first time the UK has targeted individuals for supplying such items to Russia.
The sanctions represent an increasingly intensive approach by the UK government, which had sanctioned 18 tankers last October that were suspected of being part of Russia’s shadow fleet. Last year also saw Moscow-based insurance company Ingosstrakh sanctioned, due to the belief it was involved in insuring the shadow fleet.
Overall, the UK’s latest sanctions against Russia reflect a more mature and sophisticated approach - one that targets strategic pressure points to more effectively restrict Russia’s access to revenue, technology and intelligence capabilities.
