New Sanctions Unleashed: Britain, Japan, and New Zealand Take Stronger Stance Against Russias Oil Activities

On Friday, Britain, New Zealand, and Japan declared new sanctions against Russia, with Japan and New Zealand reducing their price ceiling on Russian crude oil to below $50, aligning their actions with recent European Union measures.

The British Foreign Office announced that it had imposed sanctions on 70 vessels identified as part of Russia’s so-called “shadow fleet” of oil tankers, asserting that it has sanctioned more oil tankers than any other nation.

Additionally, 30 companies and individuals were sanctioned for allegedly supporting Russia’s military efforts by supplying critical equipment, including electronics, chemicals, and explosives used in missile production and other weapon systems.

In the meantime, New Zealand and Japan established a cap on Russian crude oil purchases at $47.60, decreasing from $60. Japan plans to gradually implement this measure by mid-October, whereas New Zealand’s price limit will come into effect immediately.

According to a Japanese Ministry of Industry representative, this price limit will not jeopardize the nation’s energy supplies, emphasizing that transactions related to the Sakhalin-2 liquefied natural gas project will remain exempt from the cap.

In conjunction with the price limit, New Zealand also imposed sanctions on 19 ships associated with Russia’s “shadow fleet,” which Western officials say is utilized to circumvent oil export restrictions. Additionally, the government added nearly 20 individuals and entities from Russia, North Korea, and Iran to its sanctions list.

On its part, Japan announced asset freezes and restrictions on payments and capital transactions affecting 47 entities and nine individuals linked to Russia, alongside export bans on 11 entities, both Russian and non-Russian.