The United Kingdom announced on Tuesday December 17 that it had sanctioned a “key actor” of Russian oil trade. The commodities trader 2Rivers (formerly Coral Energy) is accused by London of having circumvented, through its entities in the United Arab Emirates (2Rivers DMCC) and Singapore (2Rivers Pte Ltd.), the sanctions against oil sold by Moscow, subject to a ceiling price of 60 dollars (57.70 euros) per barrel of crude.
“These new measures will further dry up the war chest of [Vladimir] Putin, by reducing his oil revenues (…) and warning those who allow Russia's oil exports”has justified the office of the Prime Minister, Keir Starmer. All UK shipping players are now prohibited from providing their services to the trader, and no UK entity or entity present in the UK is permitted to transfer funds or transfer goods to the trader. Sanctions which risk further complicating Russian exports of black gold while many United Kingdom companies are essential in insurance and maritime transport.
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Source: Lemonde