Who are Murtaza Lakhani and Etibar Eyyub targeted by EU sanctions?

Murtaza Lakhani and Etibar Eyyub are Russian oil traders sanctioned by the EU for allegedly aiding Moscow in circumventing Western sanctions on oil exports.

What is Russia's 'shadow fleet' of oil tankers?

The 'shadow fleet' refers to vessels allegedly used by Russia to transport oil outside of Western maritime and financial systems to evade sanctions.

How do new EU sanctions affect Russian oil traders?

New EU sanctions prohibit business with targeted traders and restrict their access to essential services like shipping and insurance.

Home / Business and Economy / EU Targets Oil Traders Aiding Russia's Shadow Fleet

EU Targets Oil Traders Aiding Russia's Shadow Fleet

16 Dec

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Summary

EU sanctions aim to block Russian oil traders Murtaza Lakhani and Etibar Eyyub.
Traders are accused of helping Russia circumvent Western sanctions.
New measures restrict access to shipping and insurance for sanctioned entities.

EU Targets Oil Traders Aiding Russia's Shadow Fleet

The European Union has escalated its efforts against Russian oil revenue by imposing fresh sanctions on two key traders, Murtaza Lakhani and Etibar Eyyub. These individuals are accused of actively assisting Moscow in evading Western sanctions on its crude oil exports, a critical source of funding for Russia's ongoing military operations. The EU's latest actions specifically prohibit its citizens and companies from engaging in business with the sanctioned traders.

These new restrictive measures aim to cut off vital support systems, including limiting access to shipping and insurance providers. This strategy targets the "shadow fleet" of vessels that Russia reportedly uses to transport its oil outside the purview of Western financial and maritime industries. The EU has significantly expanded its sanctions list, now encompassing over 2,600 individuals and entities.