Published by Global Banking and Finance Review
Posted on July 21, 2025
LONDON (Reuters) -Britain on Monday imposed new sanctions on Russia's so-called "shadow fleet", targeting 135 oil tankers along with two Russian firms, shipping company Intershipping Services LLC and oil trader Litasco Middle East DMCC.
The oil tankers are critical to Russia's energy and oil sectors, with the British government saying they form part of the fleet responsible for carrying $24 billion worth of cargo since the start of 2024.
Foreign minister David Lammy said the new sanctions would further "dismantle" Russian President Vladimir Putin's so-called "shadow fleet and drain Russia's war chest of its critical oil revenues".
The government said Intershipping Services LLC is responsible for registering vessels under the Gabonese flag, enabling them to transport up to $10 billion worth of goods annually on behalf of the Russian state.
Sanctions were also imposed on Litasco Middle East DMCC for its continued role in shipping large volumes of Russian oil, the government said.
The Russian embassy in London did not immediately respond to a Reuters request for comment on the latest sanctions. Moscow has previously called Western sanctions illegal and said they destabilise global energy markets.
On Friday, the European Union agreed an 18th package of sanctions against Russia over its war in Ukraine, including measures aimed at dealing further blows to the Russian oil and energy industry.
As part of that, the EU and Britain set out plans to lower the crude oil price cap from $60 per barrel to $47.60 to disrupt Russia's oil revenues.
(Reporting by Muvija M, writing by Sam Tabahriti, editing by Catarina Demony)
