UK Imposes Fresh Sanctions on Russia
Britain announced a fresh round of sanctions against Russia on Thursday, targeting banks and vessels in its “shadow fleet” used to evade existing measures and keep its oil flowing. The government said the new listings, which include several Russian banks, were aimed at tightening the economic squeeze on Moscow’s war effort. It is the latest in a series of packages hitting sanctions-busting networks.
The “shadow fleet” of ageing, often uninsured tankers has become central to Russia’s ability to sell its oil above the West’s price cap, funnelling billions into the Kremlin’s coffers. By adding more ships and the banks that help finance the trade, Britain is trying to choke off the revenue sustaining the invasion of Ukraine. The move comes as Russia intensifies its bombardment of Ukrainian cities and Kyiv presses allies for tougher action. Sanctions have squeezed the Russian economy without halting the war. Watch whether allies follow with matching measures.