UK targets Russian banks, shadow fleet ships in latest sanctions package

London: Banks and shadow fleet ships are among the latest targets of UK sanctions on Russia announced on Thursday as part of the country's support for Ukraine in the ongoing conflict.

This week's sanctions package marks the first by Ed Miliband, who took charge as UK Foreign Secretary last month.

The Foreign, Commonwealth and Development Office (FCDO) said the 19 targets sanctioned include six Russian banks for allegedly propping up its war economy, six newly acquired shadow fleet tankers "responsible for dodging Western sanctions" and four Russian companies importing tantalum and niobium - "rare metals critical for producing military equipment used on the battlefield in Ukraine".


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"Today's new sanctions demonstrate the UK's unwavering commitment to supporting Ukraine and bearing down on those propping up the Kremlin's aggression," said Miliband.

"Ukraine's fight is our fight. Those that threaten Ukraine's freedom and democracy are a threat to Britain's security at home. That's why we will continue stepping up the pressure on Russia until a just and lasting peace has been reached," he said.

The package targets individuals and businesses said to be "enabling Russia's war in Ukraine" to constrain the networks and revenue streams on which the President Vladimir Putin led regime is said to rely.

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"Our commitment to stand with the Ukrainian people is absolute. That's why we're introducing new tougher sanctions to choke off the funds that fuel Putin's illegal war and are targeting his shadow fleet," said John Healey, who took charge as UK Chancellor last month.

"And the UK will continue to step up our action against Russia and its shadow fleet activity to protect our national security, our economy, and global stability," he said.

Prime Minister Andy Burnham hosted Ukraine President Volodymyr Zelenskyy in the UK last week, soon after taking charged at 10 Downing Street on July 20, and announced the UK's support for cutting-edge drone capabilities to bolster Kyiv's frontline defences.

The new sanctions package follows Miliband's visit to Washington DC this week for talks with US Secretary of State Marco Rubio. The FCDO said their discussions focused on efforts to maintain pressure on Russia and underlined that Ukraine's security is inseparable from European and transatlantic security.

This year alone the UK has imposed sanctions on over 500 individuals, entities and ships under its Russia sanctions regime, and today's decisive action sends a clear signal that the UK will not let up on its efforts to hold Russia to account and support Ukraine for as long as it takes, the FCDO stated.

The British government claims to have sanctioned over 3,400 individuals, entities and ships under the Russia sanctions regime.