LONDON, June 16 (STL.News) – The British government imposed new sanctions on Tuesday targeting the banking division of Yandex, two additional lenders, and dozens of vessels involved in the transport of Russian oil and gas. This latest package also hits a covert military procurement network in an effort to increase pressure on the financial and logistical systems supporting the Kremlin’s war in Ukraine.
Targeting Energy Networks
Beyond the banking sector, the measures include sanctions against one of Russia’s largest insurers, Rosgosstrakh. The restrictions cover more than 20 oil tankers and several liquefied natural gas vessels. Notably, this action marks the first instance of a G7 nation sanctioning ships directly linked to Russia’s Arctic LNG 2 project.
The British government stated that these measures aim to disrupt the funding and logistics that keep the Russian war economy operational. Prime Minister Keir Starmer, who confirmed the sanctions while attending a Group of Seven summit in France, emphasized the necessity of these actions.
“These sanctions target the vessels, the money and the actors propping up Russia’s war economy, and in turn, threatening European security,” said Prime Minister Keir Starmer.
Disrupting Military Procurement
The sanctions also address a clandestine network identified as Neptune, which British authorities describe as a front for the GRU military intelligence agency. This network has been accused of attempting to acquire restricted Western technology for use in the Russian defense sector.
The package includes travel bans and asset freezes against individuals identified as GRU officers. Furthermore, it targets several companies operating both within Russia and internationally that are accused of supplying critical defense technology.
Combatting the Shadow Fleet
Russia’s shadow fleet consists of ageing vessels registered in various jurisdictions, utilized primarily to bypass Western energy sanctions. Britain has now sanctioned nearly 600 such vessels. In a show of active enforcement, British commandos recently boarded and intercepted an oil tanker in the English Channel as part of these ongoing efforts.
Alongside the sanctions, Britain announced £210 million in financing to support Ukraine’s energy security. This funding includes backing a loan for the supply of enriched uranium to the state-owned nuclear power firm Energoatom. Neither the Russian Embassy in London nor Yandex provided an immediate response to requests for comment regarding the new restrictive measures.
