Britain imposes new sanctions on Russia

Britain said it has imposed new sanctions targeting Russian ships, banks, and industrial companies, in its latest efforts to disrupt the flow of funds to Moscow that could be used to finance its war against Ukraine. The British government stated that it added 13 new entities under its Russia sanctions laws, imposing restrictions on six Russian banks, six ships, and a ship management company based in India. The European Union approved the 21st package of sanctions against Russia. Britain has sanctioned more than 3,200 individuals, companies, and vessels under its Russia sanctions regime, many of which have aimed to cut off oil revenues from Russia since its invasion of Ukraine in 2022. Last June, Britain imposed new sanctions on Russia targeting Yandex Bank, a network linked to Russian military intelligence, and dozens of ships accused of transporting Russian oil and gas to third countries as part of what is known as Moscow’s shadow fleet. The package, covering 70 new entities, also included the insurance company Rostec Insurance, and the banks Evrofinans Mosnarbank and Wild Berries. These measures are part of British efforts to intensify pressure on financial and supply networks that it says help the Kremlin in its war in Ukraine. The measures include more than 20 oil tankers and several liquefied natural gas (LNG) carriers, with the government describing this as the first time a G7 country has imposed sanctions on ships linked to Russia’s Arctic LNG 2 project.