Britain is set to slap sanctions on up to 100 vessels that are a part of Russia’s shadow fleet, PM Keir Starmer announced in a statement on Friday. The final number and names of the tankers have not been disclosed. The move is set to ramp up the number of vessels targeted by the country by 75% as Britain seeks to punish Moscow for its war on Ukraine, Bloomberg reported on Friday.

In context: The tankers are alleged to have carried more than GBP 18 bn (USD 24 bn) worth of oil and gas cargo since the start of 2024. However, it is not clear whether the move would undermine the Russian oil trade given how previously sanctioned vessels are continuing to move the crude.

Joining the herd: The European Union is considering blacklisting Litasco Middle East DMCC — the Dubai-based trading arm of Russian oil giant Lukoil — for allegedly helping facilitate Moscow’s shadow fleet operations. The EU enacted its 15th package of sanctions against Russia back in December, targeting 84 individuals and entities including seven Chinese entities.

Tags: