The UK has announced a landmark sanctions package, cutting off critical oil revenues and further degrading the Kremlin’s ability to wage its illegal war.

Nearly 300 new sanctions announced as UK cracks down on critical Russian energy revenues, including oil exports, and key suppliers of military equipment fuelling war efforts.   

Russian Oil revenues are now at their lowest since 2020 as the UK and international partners continue to ratchet up pressure on Putin’s flailing war machine. 

In the list, the name of Maritime Mutual P & I Club and 50 Oil Tankers also are suspended. Maritime Mutual is based out of New Zealand but are not allowed to transact any insurance related activities in New Zealand. It is said to be fixed premium PNI Club and claims to have 7400 vessels under it. As per website, only 6% of the vessel insured are Oil Tanker. As per report published by Reuters, MM is one of the biggest insurer of dark fleet vessels.

New measures also hit Russia’s dark web of illicit oil traders, sanctioning 175 companies in the ‘2Rivers’ oil network, one of the largest shadow fleet operators globally and a major trader of Russian crude oil.