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UK Issues Sanctions Against Ships Involved in Russian Oil Trade

OIL

The UK issued sanctions against four Emirati shipmanagers this week linked to 82 tankers involved in Russian oil trades outwith the G7 price cap.

  • Sovcomflot, K&O Ship Management, Radiating World Shipping Services and Star Voyages Shipping Services were targeted. It is the largest scale sanctions action against those found in breach of measures directed against Russia and follows similar sporadic action by US officials in recent months after a large period of inaction.
  • The UK said the SCF entity and three other companies used “opaque corporate structures and deceptive shipping practices to facilitate unfettered trade in Russian oil”.
  • See link for statement: https://www.gov.uk/government/news/uk-hits-military-suppliers-propping-up-russias-war-machine

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