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United Kingdom Imposes Sanctions on Russia’s “Ghost Fleet” of Tankers Used to Avoid Western Embargo
The measure against 10 tankers represents the latest offensive against the revenue source that funds Putin’s war machine. The announcement came as the British Chancellor traveled to Kyiv alongside the US Secretary of State.
The British government announced new sanctions on Wednesday against the “ghost fleet” of Russian tankers that Moscow uses to export oil, circumventing a Western embargo imposed after the invasion of Ukraine.
Experts say that the so-called ghost fleet of tankers with opaque ownership or inadequate insurance has allowed the Kremlin to continue exporting, despite the ban on exports and the price cap imposed on oil in global sales. tankers
What is the Ghost Fleet of Tankers and How Does It Work
The ghost fleet refers to a network of tankers that are used to circumvent sanctions and international regulations. These vessels typically have concealed ownership, sail under flags of convenience, or turn off their tracking systems to avoid detection.
This fleet has been essential for Russia to maintain oil revenue flow, one of the largest sources of funding for the war in Ukraine. Estimates suggest that Russia continues to export millions of barrels of oil per day, with a significant portion of that volume transported by the ghost fleet.
The use of these tactics has been criticized by Western countries, which are trying to choke the Russian economy and cut off funding for the war. tankers
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New British Sanctions: Impact on Russian Exports
The announcement of the new sanctions was made as Foreign Minister, David Lammy, was traveling to Kyiv on an unprecedented visit alongside US Secretary of State Antony Blinken amid concerns regarding Russia’s alleged acquisition of Iranian missiles.
This marks the third time the UK has tried to crackdown on what the British Foreign Office describes as “critical sources of income that fund Putin’s war machine,” increasing the total number of sanctioned vessels to 25.
Russia’s oil exports are the Kremlin’s main revenue source for financing its war in Ukraine, and the 10 vessels affected by this new round of sanctions were “high-volume violators,” according to British authorities.
The sanctions ban these vessels from entering UK ports and accessing the country’s Ship Registry, limiting their ability to operate in the international market. tankers
Russia Adapts to International Pressure
Despite Western efforts to restrict Russia’s revenues, the Kremlin has found creative ways to circumvent sanctions. Russia has been exploring alternative routes for its energy products, including bilateral agreements with countries like China and India.
Additionally, the use of the ghost fleet allows Russia to continue selling oil at prices below the imposed cap, yet still profitable, to sustain its economy. The ghost fleet is estimated to account for a significant portion of Russian exports, becoming a strategic tool in the economic war with the West. tankers
Collaboration Between UK and USA
The latest British measure to increase support for Ukraine comes as Lammy and Blinken plan to discuss relaxing restrictions on the use of Western weapons by Ukraine against Russia.
On Tuesday, President Joe Biden stated that the United States was considering lifting restrictions on long-range missiles made in the US, giving Ukraine more capability to strike strategic targets within Russian territory.
The sanctions also follow a day after London and Washington sanctioned Iranian and Russian companies and military officials for their role in supplying military equipment, especially ballistic missiles, from Iran to Russia. These increasingly close military agreements heighten geopolitical tensions and could escalate the conflict in Ukraine. tankers
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