UK Expands Russia Sanctions Against Maritime and Banking Sectors

The new designations focus on six Russia-based banks, six individual vessels, and one India-based ship management firm. By tightening the net around these maritime and financial assets, London continues its strategy of disrupting the logistics and revenue chains that fund the conflict. Since the 2022 invasion of Ukraine, Britain has applied sanctions to more than 3,200 individuals, businesses, and ships. A significant portion of these measures remains focused on curtailing the oil revenues that provide Moscow with its primary source of wartime funding.