The U.K. government has announced its most extensive sanctions package targeting Russia’s “shadow fleet” — a network of ships used to evade sanctions on the sale of Russian oil.
The new sanctions list adds 100 oil tankers that, according to U.K. authorities, have transported over $24 billion worth of cargo since the beginning of 2024.
In addition, nine Russia-linked individuals and legal entities have been sanctioned, including the insurance company Soglasie, as well as the companies Nord Axis, BX Energy, and Romarine AS. The list also names the executives of 2Rivers: Tahir Garayev, Ahmed Kerimov, Talat Safarov, Etibar Eyyub, and Anar Madatli.
“The threat from Russia to our national security cannot be underestimated,” said U.K. Prime Minister Keir Starmer. “That is why we will do everything in our power to destroy [Putin’s] shadow fleet operation, starve his war machine of oil revenues and protect the subsea infrastructure that we rely on for our everyday lives.”
The term “shadow fleet” generally refers to a group of aging oil tankers that operate with their transponders turned off to avoid tracking. After Western sanctions were imposed, Russia began relying on this fleet to transport oil sold above the price cap introduced at the end of 2022.
According to estimates by The Guardian, Russia’s shadow fleet currently includes around 600 vessels and is responsible for roughly 70 percent of the country’s oil exports.