The UK Prime Minister intensified economic pressure on Russia with a sweeping package of new sanctions, as he rallied support for Ukraine at the G7 Summit in Canada on 17 June.
As stated, the latest measures target 30 entities across Russia’s financial, military, and energy sectors, in response to President Putin’s continued aggression and refusal to engage seriously in peace efforts. As a result, UK has tightened its economic grip on the Russian regime.
A major focus of the sanctions is Putin’s so-called “shadow fleet” with 20 oil tankers targeted to disrupt his covert oil trade. The UK has also sanctioned Orion Star Group LLC and Valegro LLC-FZ for their roles in crewing and managing these vessels, tightening the net around those facilitating illicit energy exports.
The threat posed by Russia cannot be underestimated, so I’m determined to take every step necessary to protect our national security and keep our country safe and secure.
…said UK Prime Minister Keir Starmer.
The sanctions also strike at the center of Russia’s military capabilities, including measures against GUGI, the agency responsible for developing Russia’s underwater intelligence operations. This move aims to protect critical subsea infrastructure, bolstering the UK’s national security.
In addition, two UK residents have been sanctioned for operating a network of shell companies that funneled over $120 million worth of electronics many classified as Common High Priority goods into Russia.
The UK also plans to move with partners to tighten the Oil Price Cap to hurt Russia’s oil revenues, while ensuring stability of the energy market.
…said Foreign Secretary, David Lammy.
