UK Imposes New Sanctions On Russia's Oil, Shadow Fleet, War Supply Chains

(MENAFN- UkrinForm) The UK Foreign Office said this in a statement, Ukrinform reports.

The sanctions target 38 legal entities and individuals. In particular, restrictions were imposed on Russian oil companies Zarubezhneft and INK Capital. The UK Foreign Office said Britain had become the first G7 country to impose sanctions on Russia's four largest oil companies. The latest measures mean that UK sanctions now cover more than 90% of Russia's oil production capacity.

In addition, 12 more oil tankers were added to the sanctions list, bringing the total number of vessels from Russia's shadow fleet under UK sanctions to more than 600. According to the Foreign Office, these vessels are used to circumvent sanctions and transport Russian oil, including through deceptive practices and the use of false flags.

The Foreign Office noted that the new sanctions target not only vessels already at sea but also those facilitating the supply chain used to transport Russian oil around the world.

Another 17 legal entities and individuals were sanctioned for supplying Russia with so-called Common High Priority goods. These include machine tools, electronics and materials needed to manufacture ballistic missiles, drones and other military equipment. According to the UK Foreign Office, Russia obtains some of these goods through third countries. The ministry said it was identifying those involved and taking appropriate action against them.

Read also: EU extends Russia sanctions over hybrid attacks and destabilization abroad for another year

The UK also imposed sanctions on three cryptocurrency exchanges, two payment platforms and a related individual suspected of helping Russia circumvent financial restrictions. According to the Foreign Office, two of these entities processed transactions through the A7 financial network, which is backed by the Kremlin. Last year, it reported processing more than $90 billion in transfers.

“The message is simple: if you help Russia fund or equip this war, you will face the consequences... By sanctioning these companies, we're not only stemming the flow of Russian oil money, but cutting off the routes used to circumvent our sanctions regime by making it harder for major Russian oil companies to rebadge their oil under the name of an unsanctioned entity,” the UK Foreign Office said.

As reported by Ukrinform, on October 1, the United Kingdom announced a new sweeping package of sanctions against Russia aimed at weakening the Kremlin's war budget, countering propaganda, and holding accountable those involved in the torture of Ukrainian civilians and the deportation of children.

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