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UK Imposes Largest Sanctions on 43 Russian Oil and LNG Vessels

Oct 17, 2024, 12:30 PM

The UK government has imposed its largest package of sanctions to date on Russia's 'shadow fleet,' targeting 18 Russian oil tankers and four liquified natural gas (LNG) vessels. These sanctions are aimed at curbing Russia's oil revenues and preventing these vessels from accessing UK ports and British maritime services. The move is part of a broader effort to challenge vessels hauling fuel for Moscow with dubious insurance. The sanctioned tankers have transported cargo worth an estimated $4.9 billion over the past year. The total number of blocked ships now stands at 43, including vessels used to export LNG from Gazprom’s Portovaya plant.