UK imposes new sanctions on Russian shadow fleet and banks

The United Kingdom imposed a new package of sanctions on Russia on Thursday, August 6, targeting shipping, banking, and industrial sectors in a move officials said was aimed at constraining revenue for the war in Ukraine. The measures designate 19 new targets, including six vessels accused of transporting Russian energy exports, an India-based ship management company, six Russian financial institutions, and four industrial firms.

The maritime sanctions focus on what Western governments describe as Russia's "shadow fleet," vessels used to circumvent price caps and trade restrictions on Russian oil and gas. The designated ships include the liquefied natural gas carrier Arctic Express and five oil tankers-Perseas, Torvian, Asteras, Visund, and Zenturo-which officials allege have carried Russian crude oil or petroleum products to third countries. The vessels, believed to be sailing under various flags including those of San Marino, Barbados, and Palau, are now prohibited from entering UK ports and face broad restrictions on maritime services. The UK also sanctioned Frion Ship Management LLP, a Mumbai-based company accused of facilitating the sale of the Arctic Express into Russian...