UK Expands Sanctions on Russian Tankers, Leads Global Efforts

The UK remains at the forefront of the global effort to impose sanctions on Russian tankers. Prime Minister Keir Starmer announced that 20 additional tankers have been added to the UK's sanctions list.

This move follows reports earlier this week confirming that the UK has joined forces with several Northern European countries to target the insurance coverage of vessels transporting Russian cargo through the Baltic Sea and the English Channel.

The UK has now sanctioned over 100 vessels linked to the transportation of Russian energy, including 93 oil tankers — more than any other country involved in the sanctions campaign.

Prime Minister Starmer stated that the new sanctions would increase pressure on President Putin's "stalling war economy."

Earlier this week, the European Union also expanded its list of sanctioned tankers, adding 52 vessels to its blacklist. This follows a prior move to sanction 17 tankers, demonstrating the growing international crackdown on Russian maritime trade.

Data from vessel tracking compiled by Bloomberg reveals that 68 out of 106 crude oil tankers blacklisted by the UK, US, and EU since October 2023 have not carried any cargo since being sanctioned.

Despite these measures, the so-called "grey fleet" of ships still continues to grow. According to BRS, the fleet is expanding at a rate of about 10 tankers per month and now comprises around 850 vessels, accounting for 9.1% of the global tanker fleet.