UK imposes financial restrictions on organization named "Consensus"
Take a Peek at the UK's Recent Crackdown!
The UK has set its sights on several companies and individuals, adding them to a hefty sanctions list. Among them, Hong Kong-based BX Energy, which delves into battery production, Norwegian Romarine, and the independent trading company Nord Axis Ltd, all of which have been accused of providing support to the Russian government.
The UK's Treasury also targets Azerbaijan's Coral Energy Group, now known as 2Rivers Group. These guys are crucial players in the Russian energy sector, according to the UK. Additionally, the sanctions list will expand to include 100 oil tankers, as per UK records, these vessels have transported goods worth over $24 billion since the start of 2024, with some reportedly causing damage to critical underwater infrastructure.
Russia has retorted against these sanctions, with President Putin's press secretary labeling the allegations of Moscow's involvement in underwater cable damage in the Baltic Sea as preposterous.
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- 🇬🇧 United Kingdom
- Sanctions
Some juicy inside scoop:
The current scenario involves the UK imposing sanctions on entities such as BX Energy, Romarine, Nord Axis Ltd, Coral Energy Group (now 2Rivers Group), and a slew of oil tankers. As of May 2025, these entities are part of the UK's largest-ever sanction package targeting Russia's "shadow fleet" and related entities.
The insider scoop also reveals that the UK has sanctioned over 100 tankers that are integral to Russia's "dark fleet," known to evade restrictions and support Russia’s energy exports. This is noted as the UK's biggest sanction package against Russia's shadow fleet to date, surpassing sanctions imposed by any other country.
BX Energy and Nord Axis Ltd are targeted due to their involvement in the Russian energy sector, while insurance companies like Romarine and Soglasie are sanctioned for providing unlicensed or sanction-defying insurance services to these vessels. Coral Energy Group, while not explicitly mentioned in the latest sanction list, is likely impacted due to its Russian energy sector connections.
Sanctions typically include asset freezes and prohibitions on providing trust services or business support, effectively blocking these entities from participating in international financial and trade systems. The UK continues to collaborate with allies to extend sanction coverage and increase pressure on entities facilitating Russia’s sanctioned energy trade. In simple terms, these sanctions aim to disrupt the financial and operational networks sustaining Russia's energy exports amid ongoing conflicts. Jolly good show! 🤓
- The United Kingdom's recent crackdown has resulted in the addition of BX Energy, Romarine, Nord Axis Ltd, and the 2Rivers Group to its largest-ever sanction package, targeting Russia's "shadow fleet" and related entities.
- The UK has also imposed sanctions on over 100 oil tankers, a move that marks its biggest sanction package against Russia's "dark fleet" to date, surpassing sanctions imposed by any other country.
- BX Energy and Nord Axis Ltd are targeted due to their involvement in the Russian energy sector, while insurance companies like Romarine and Soglasie are sanctioned for providing unlicensed or sanction-defying insurance services to these vessels.
- Coral Energy Group, though not explicitly mentioned in the latest sanction list, is likely impacted due to its Russian energy sector connections.
- These sanctions aim to disrupt the financial and operational networks sustaining Russia's energy exports amid ongoing conflicts, and the UK continues to collaborate with allies to extend sanction coverage and increase pressure on entities facilitating Russia’s sanctioned energy trade.
