“Russia’s oil revenues are fueling the flames of war and destruction in Ukraine,” Lammy declared in a statement.
“I am committed to working with our G7 allies and beyond to apply unrelenting pressure on the Kremlin. Our goal is to disrupt the flow of money into its war fund, weaken its military apparatus, and limit its harmful actions on the global stage.”
The U.K. government revealed that the sanctioned ships were instrumental in transporting billions of pounds’ worth of oil and petroleum products over the past year. These activities, it said, pose “significant risks to global trade.”
With this latest move, the total number of Russian oil tankers sanctioned by the U.K. has risen to 73, surpassing the 39 sanctioned by the U.S. and 19 by the European Union.
The U.K.’s newest sanctions target 30 oil tankers from Russia’s so-called “shadow fleet,” in a bid to choke off financial support for Vladimir Putin’s war in Ukraine. “At this critical juncture, thwarting sanctions loopholes and cutting off Russia’s ability to use oil revenues to fund its aggression remain top priorities,” Lammy told reporters at the G7 summit.
“We are determined to not only target these vessels but also to hold accountable the enablers who aid them in bypassing European and U.K. sanctions. Our efforts will continue to clamp down on such activities and ensure our measures effectively undermine Russia’s capacity to wage war,” Lammy emphasized.
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