EU targets Russia’s shadow fleet with new sanctions
Russia hit with fresh set of sanctions
- The European Union has adopted its latest package of sanctions, targeting companies and individuals accused of assisting Moscow in circumventing Western restrictions on oil exports.
- These measures aim to disrupt Russia's illicit oil sales, which fund its war in Ukraine and often rely on a 'shadow fleet' of vessels operating beyond Western reach.
- The new sanctions prohibit EU citizens from conducting business with the newly listed entities and individuals, significantly reducing their access to major shipping and insurance providers.
- Specifically, nine individuals and entities supporting Russia's shadow fleet of oil tankers have been targeted, including businessmen linked to oil giants Rosneft and Lukoil.
- Among those sanctioned are Valery Kildiyarov of Litasco Middle East DMCC, individuals connected to Coral Energy (now 2Rivers Group), and Canadian-Pakistani oil trader Murtaza Lakhani, CEO of Mercantile & Maritime.