On Monday, the British government unveiled a new round of sanctions, targeting 30 vessels linked to Russia’s “shadow fleet.” This brings the total number of ships under UK restrictions to 73. Foreign Secretary David Lammy described the move as the UK’s largest sanctions package against tankers and cargo ships used by Russia to circumvent oil export restrictions and finance its ongoing conflict in Ukraine.

These measures also target two Russian insurers accused of supporting the fleet of ships that operate with dubious ownership and lack proper insurance. These vessels, which frequently transport Russian oil and fuel while flying flags from various countries, are instrumental in helping Russia maintain its oil exports, despite international sanctions and a global price cap on its oil.

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According to the UK’s Foreign Commonwealth and Development Office (FCDO), nearly half of the newly sanctioned vessels were responsible for transporting over $4.3 billion worth of oil and oil products in the past year alone.

Foreign Secretary Lammy made the announcement during a G7 foreign ministers’ meeting in Italy, highlighting that the new sanctions have already had a measurable impact. While the US has sanctioned 39 vessels and the EU 19, the UK’s expanded list now outpaces both. The UK government pointed out that Russia is increasingly turning to countries like North Korea and Iran for military supplies, as evidenced by two oil tankers, Artemis and Sea Fidelity, which have been stranded in the Baltic Sea since their sanctions were imposed.