UK targets Russia’s LNG sector with new shipping sanctions

Britain on Thursday sanctioned five ships and two associated entities involved in Russian LNG shipments, the government saying it is using new legal powers for the first time to directly target LNG carriers.

“Earlier this year, the UK sanctioned Arctic LNG 2, alongside our US and EU allies. Since then, the project has been forced to reduce production,” the government statement said.

“Today’s action builds on this by targeting vessels and entities involved in the Russian LNG sector that are engaged in projects important to Russia’s future energy production.”

Britain imposes first sanctions on Russian Shadow Fleet tankers

The entities sanctioned on Thursday were White Fox Ship Management and Ocean Speedstar Solutions OPC. The vessels were Asya Energy, Pioneer, North Sky, SCF La Perouse and Nova Energy.

Earlier this month, Britain slapped sanctions on 10 more ships in Russia’s so-called “shadow fleet,” which it says use illicit practices to evade Western restrictions on Russian oil.

Russia is resisting Western pressure to limit its oil exports, and in the past year there has been an increase in the number of tankers carrying cargo that is not regulated or insured by conventional Western suppliers.

(Reporting by Muvija M; Writing by Kylie MacLellan; Editing by William James)

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