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UK 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.