World

UK announces 38 sanctions designations targeting Russia's oil and military supply chains

In brief

The measures cover two oil companies, 12 tankers and financial services suspected of helping Russia evade sanctions.

Britain announced 38 new sanctions designations on October 8 targeting Russian oil revenue, financial networks and supplies for its military industry, RBC-Ukraine reported, citing a British government statement.

The measures include oil companies Zarubezhneft and INK Capital, along with 12 oil tankers that British authorities describe as part of Russia's shadow fleet. The government said the measures were intended to restrict oil income and routes used to evade sanctions.

Britain also sanctioned three cryptocurrency exchanges, two payment platforms and an associated individual. Three of the organisations are linked to Kyrgyzstan. British authorities suspect the organisations of helping Russia circumvent financial sanctions and said two had processed or facilitated transactions with the A7 network.

Another part of the package covers 17 organisations and individuals that London links to supplies of goods important to Russia's war effort, including machine tools, electronics and materials for ballistic missiles and drones. The government said this trade was being disguised through third countries.

Sources