UK has announced fresh sanctions to crack down Russia's so-called "shadow fleet", targeting 135 oil tankers along with two Russian firms, shipping company Intershipping Services LLC and oil trader Litasco Middle East DMCC.
New sanctions target the core of Russia’s energy sector, aiming to "cut off Putin’s access to vital oil revenues."
In its statement, the British government said the targeted oil tankers are part of a fleet that has illicitly transported $24 billion worth of cargo since the beginning of 2024.
Foreign minister David Lammy said the new sanctions would further "dismantle" the Russian President's so-called "shadow fleet and drain Russia's war chest of its critical oil revenues".
In particular, the sanctions target two Russian companies.
One is Intershipping Services LLC, which registers fleet vessels under the Gabonese flag and is responsible for transporting up to $10 billion worth of goods annually on behalf of the Russian state, - the UK government said.
The other is 'Litasco Middle East DMCC', a company linked to Russian oil major Lukoil, sanctioned for its continued role in transporting large volumes of Russian oil using shadow fleet vessels.
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Russian President Vladimir Putin is prepared to hold negotiations with “everyone,” including European leaders, the Kremlin said on Friday, after reports that the European Union is considering possible talks with Moscow.
Ukraine’s military said it struck a Russian Karakurt-class small missile carrier in the Caspian Sea near Russia’s Dagestan region on Thursday. The extent of the damage is still being assessed, according to Kyiv.
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British paratroopers and military medics have been deployed to Tristan da Cunha after a suspected hantavirus case was confirmed, as first evacuation flights carrying passengers from the stricken MV Hondius cruise ship left Tenerife for Madrid and Paris.
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Indonesian rescue teams have located two Singaporeans who went missing after Mount Dukono erupted on Friday (8 May) on the island of Halmahera, though authorities say it remains unclear whether they are alive.
The U.S. Defense Department has released dozens of previously classified files on unidentified anomalous phenomena (UAP) on Friday (8 May), following an order from President Donald Trump. U.S. officials described as a push for “unprecedented transparency”.
A memorandum of understanding has been signed between Baku State University (BSU) and the international television channel AnewZ, marking a new stage of cooperation in journalism education and media development.
China’s exports grew faster than expected in April, as overseas buyers moved quickly to secure supplies amid fears that the conflict involving Iran could drive up global energy and transport costs.
Asian stocks surged to record highs on 7 May as investors priced in growing hopes of a potential Middle East peace deal, while oil prices eased and the U.S. dollar weakened amid shifting global risk sentiment.
Stocks around the world climbed to fresh record highs on Wednesday (6 May), while oil prices fell sharply, after reports suggested the United States and Iran were nearing an agreement to end conflict.
U.S. President Donald Trump has said he will raise tariffs on cars and trucks imported from the European Union to 25% next week, up from the 15% level agreed last year, accusing the bloc of failing to comply with its trade commitments.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
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