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VisitUK Imposes Sanctions on Russia's Shadow Fleet, 6 Ships, and 6 Firms
Jun 13, 2024, 11:40 AM
The UK government has imposed new sanctions targeting Russia's shadow fleet of oil tankers and several companies. The sanctions aim to cut off financial support to President Vladimir Putin's war efforts. The entities affected include EKO Shipping Ltd, Ingosstrakh Insurance Co, China-based Hengshui Yuanchem Trading Ltd, and HK Hengbangwei Electronics Ltd. This move marks the UK's first sanctions on Russia's shadow fleet, which has been used to circumvent existing sanctions and transport Russian oil. The sanctions also target 6 ships and 6 firms supporting the Russian LNG sector. The sanctions were announced as Prime Minister Rishi Sunak joined G7 leaders in Bari.
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Markets
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Yes • 50%
Company reports, trade data, and government statements
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Yes • 50%
International trade data and shipping reports
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No • 50%
Reports from UK government and international trade data
Reduction in sanctions • 33%
No change • 34%
Increase in sanctions • 33%
Official government announcements, international news reports
Closure of firms • 33%
No significant impact • 33%
Reduction in production • 34%
Government reports, industry analysis
Hengshui Yuanchem Trading Ltd • 25%
EKO Shipping Ltd • 25%
Ingosstrakh Insurance Co • 25%
HK Hengbangwei Electronics Ltd • 25%
Company financial reports, government statements