To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what estimate he has made of the impact of unregistered and uninsured vessels on the value of sanctions against the Russian Federation that have been evaded.
Answered on
23 December 2024
Our oil-related sanctions are having a significant impact, with Russia forced to shoulder a 25% reduction in oil and gas revenues from January to October 2024, compared to the same period in 2022. Where Russia has sought to circumvent those sanctions, we have taken robust action. We have now sanctioned 93 shadow fleet oil tankers; and we are exposing malign maritime practices by requesting proof of insurance from suspected shadow vessels passing through the English Channel - an approach partners along the Baltic route will now replicate. We continue to step up our efforts, working closely with partners, to ensure our sanctions' effectiveness and impact.