Britain, New Zealand and Japan announced new sanctions against Russia on Friday, with the latter two countries lowering their price cap on Russian crude oil to less than $50, a move that aligns with recent measures imposed by the European Union.
The British Foreign Office said it had sanctioned 70 ships believed to be part of Russia’s so-called “shadow fleet” of oil tankers, adding that it “has now targeted more oil tankers than any other country.”
Also sanctioned were 30 companies and individuals claimed to be “propping up Russia’s war machine by supplying key equipment such as electronics, chemicals and explosives used to manufacture missiles and other weapons systems.”
Meanwhile, New Zealand and Japan said they would cap the purchase of Russian crude oil at $47.60, down from $60. Japan will phase in the measure by mid-October, while New Zealand said its price cap would take effect immediately.
A Japanese industry ministry official said the limit would not harm the country’s energy supplies, noting that transactions tied to the Sakhalin-2 liquefied natural gas project remain exempt.
Alongside the cap, New Zealand imposed sanctions on 19 vessels linked to Russia’s “shadow fleet,” which Western officials say is used to bypass restrictions on oil exports. The government also added nearly 20 individuals and entities from Russia, North Korea and Iran to its sanctions list.
Japan, in its turn, announced asset freezes and restrictions on payments and capital transactions targeting 47 entities and nine individuals connected to Russia. It also imposed export bans on 11 Russian and non-Russian entities.
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