On May 20, 2025, the European Union adopted its 17th package of sanctions against Russia, focusing on restricting access to key military technologies and curbing energy revenues, according to EU's release. The sanctions target Russia's "shadow fleet" of oil tankers.
The EU doubled the number of vessels under port access bans and service prohibitions, adding 189 ships, bringing the total to 342. These vessels, originating from third countries, are involved in transporting Russian oil.
The EU also imposed individual sanctions, including asset freezes and funding prohibitions, on entities enabling the operation of this fleet, including shipping companies from the United Arab Emirates, Türkiye, and Hong Kong, as well as a significant insurer in the Russian oil shipping industry.
Since the implementation of the oil price cap and sanctions on the shadow fleet, Russia's relevant revenues have decreased by €38 billion. In March 2025, revenues were 13.7% lower than in March 2023 and 20.3% lower than in March 2022.
Additionally, the EU imposed restrictive measures on Surgutneftegas, a major Russian oil company. An important Russian oil shipping company was also listed.
The UK announced a concurrent sanctions package targeting 100 entities across Russia's military, energy, and financial sectors. This includes companies involved in weapons supply chains and 46 financial institutions aiding in sanctions circumvention.
Furthermore, 18 vessels identified as part of Russia's "shadow fleet" were sanctioned, along with individuals associated with these operations.
These coordinated measures by the EU and UK aim to diminish Russia's capacity to finance its military activities by targeting critical components of its energy export infrastructure and associated financial networks.
Surgutneftegas is a major Russian oil and gas company, Surgutneftegas is involved in the exploration, extraction, processing, and sale of oil and gas.
Ro Marine is an Oslo-based insurance company that has been involved in providing insurance services to maritime vessels.