Sanctions on Russian Insurer for Operating 'Shadow Fleet' of Tankers

Thursday, 13 June 2024, 14:50
The UK has imposed sanctions on Ingosstrakh, a Russian insurer, in a move aimed at restricting the Russian government's oil revenues during the Ukraine war. Ingosstrakh has been targeted for its involvement in operating a 'shadow fleet' of tankers, a crucial step in limiting the Kremlin's financial resources. Such actions reflect the ongoing efforts of Western nations to exert economic pressure on Russia amidst the conflict.
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Sanctions on Russian Insurer for Operating 'Shadow Fleet' of Tankers

Sanctions on Ingosstrakh for 'Shadow Fleet' Operation

The UK has implemented sanctions on Ingosstrakh, a Russian insurer, as part of its strategy to restrict the Kremlin's oil revenues amid the Ukraine war.

Target to Limit Russian Government's Financial Resources

This move is designed to hinder the operations of the insurer's 'shadow fleet' of tankers utilized by the Russian government.

  • Western Pressure: The sanctions reflect global efforts to diminish Russia's financial strength.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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