Investing.com -- The U.K. plans to impose new sanctions on a fleet of Russian oil tankers believed to be helping Moscow sidestep existing restrictions on energy exports.
In a Friday press release, U.K. Prime Minister Sir Keir Starmer said that up to 100 vessels—linked to more than £18 billion in cargo shipments since early 2024—will be targeted under the fresh measures.
Starmer is expected to announce the move during a summit of the Joint Expeditionary Force (JEF), a group of northern European nations meeting in Oslo.
He said the U.K. would use all available tools to “destroy” Russian President Vladimir Putin’s “shadow fleet operation, starve his war machine of oil revenues and protect the subsea infrastructure”.
“My government will safeguard working people from paying the price from the costly threat Putin’s fleet poses to U.K. critical national infrastructure and the environment,” Starmer added.
Western sanctions imposed after Russia’s 2022 invasion of Ukraine have aimed to curb Kremlin oil revenues by limiting imports and capping prices. In response, Russia assembled a so-called “shadow fleet” of tankers with obscure ownership and routing to avoid detection.
Downing Street has accused this operation of “bankrolling the Kremlin’s illegal war in Ukraine” and described the ships as “decrepit and dangerous,” blaming them for “reckless seafaring” and linking them to incidents such as damage to key undersea infrastructure in the Baltic.
Under the new measures, targeted ships will be barred from entering British ports and could face detention in U.K. waters.
“Every step that increases pressure on Moscow and works towards peace for Ukraine is another step towards security and prosperity in the U.K.,” Starmer added.
The announced sanctions also include asset freezes on multiple directors of Coral Energy Group, an oil trading firm engaged in the sale and export of Russian crude oil, which is now operating under the name 2Rivers Group.