New EU sanctions hit Russian oil traders and shipping firms

The Kabul Tribune (KT) - The European Union on Monday adopted a new round of sanctions against Russia, targeting oil traders and companies accused of helping Moscow bypass Western restrictions on crude exports that help fund its war in Ukraine, Reuters reported.

The measures include sanctions on traders Murtaza Lakhani and Etibar Eyyub and focus on Russia’s so-called “shadow fleet” of oil tankers used to ship crude outside Western shipping and insurance systems. The sanctions bar EU citizens and firms from doing business with those listed and limit their access to shipping and insurance services.

Russia criticised the move, saying the sanctions would be ineffective and would mainly harm European citizens.