UK Targets Russian Oil Fleet With Biggest Sanctions Hit in Years

The UK government announced new sanctions on Russia’s so-called shadow oil fleet as it ramped up efforts to squeeze energy revenues funding the Kremlin’s war in Ukraine.

Britain targeted 175 companies in the 2Rivers network, according to a statement from the foreign office on Tuesday which coincided with the fourth anniversary of Russia’s full-scale invasion. It also sanctioned PJSC Transneft, one of world’s largest oil pipeline companies,  which it said was responsible for transporting over 80% of Russia’s oil exports.