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New Western sanctions target four ships suspected of participating in the “ghost fleet” of tankers used by the Russians since the start of the invasion in Ukraine.
The United Kingdom announced on Thursday June 13 a new wave of sanctions against Russia, targeting the Moscow Stock Exchange as well as the “ghost fleet” of ships used since the invasion of Ukraine. These measures were announced on the occasion of the G7 summit in Italy and come after American announcements also targeting the Moscow financial center.
What is the “ghost fleet”?
“We are once again stepping up economic pressure with sanctions aimed at limiting Russia’s ability to finance its war machine,” British Prime Minister Rishi Sunak said. President Vladimir “Putin must lose, and it is absolutely vital to cut off his ability to finance a long conflict,” he added. In detail, London is targeting four ships suspected of participating in the “ghost fleet” of used tankers of sometimes opaque ownership or without insurance, which allow Russia to continue to massively export its oil, as well as two ships accused to transport weapons to Moscow.
104 billion dollars despite the embargo
Thanks to the use of these “ghost ships” belonging to companies based abroad, oil tankers discreetly ship millions of barrels to Asia. A strategy that makes it very difficult for maritime authorities to monitor trade. Once under the flag of a country like India or China, the oil is then resold in countries around the world, including Europe, despite the ban.
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War in Ukraine: kyiv claims to have reached a Russian fighter plane for 50 million euros
Over the first ten months of 2023, the sale of fuel allowed Moscow to rake in 104 billion dollars (95 billion euros) despite the embargo. No control measures have been able to stop the phenomenon until now.
