The UK has sanctioned four UAE entities for conducting business that supports the Russian military in the transport sector. The operators of “shadow fleet” vessels were, it was claimed, “used by Russia to soften the blow of oil-related sanctions imposed by the UK alongside G7 partners.” The move was part of the sanctioning of 46 individuals and several entities for their role in supporting the Russian military.
The UK added that they used “opaque corporate structures and deceptive shipping practices to facilitate unfettered trade in Russian oil”.
Although the names of the companies were not published officially, the full comprehensive list of sanctioned individuals and entities, indicates that they are:
- Oil Tankers (SFC) Ship Management of IFZA Business Park, Dubai Silicon Oasis, Dubai, UAE.
- K&O Ship Management of Sheikh Rashid Tower, Dubai World Trade Centre.
- Radiating World Shipping Services LLC of Burjuman Business Centre, Khalid Bin Al Waleed Road, Dubai.
- Star Voyage Shipping Services LLC of the same address as Radiating World Shipping Services LLC.
The sanctions imposed to be imposed are: Asset freeze; Trust Services Sanctions; Transport sanctions.
“Transport Sanctions”, mean that a ship “owned, controlled, chartered or operated by a designated person is prohibited from entering a port in the UK, may be given a movement or a port entry direction, can be detained, and will be refused permission to register on the UK Ship Register or have its existing registration terminated”.
On Monday the Office of Trade Sanctions Implementation (OTSI) said that it would be responsible for the civil enforcement of trade sanctions, investigating potential breaches, issuing penalties and referring cases for criminal enforcement. OTSI will launch in early 2024 once the new legal requirements are in place.
Meanwhile, the US on Tuesday imposed sanctions on hundreds of people and entities, including in China, Turkey and the United Arab Emirates, as it targets Russia’s sanctions evasion, future energy capabilities, banks and its metals and mining sector.