The European Union and U.K. have imposed fresh sanctions on Russia, notably targeting almost scores of ships from the shadow fleet illicitly transporting oil to skirt Western restrictions imposed over the war on Ukraine.

The European Union on Tuesday announced a fresh wave of sanctions on Russia, marking its 17th package since Moscow’s invasion of Ukraine. The latest measures target nearly 200 vessels from Russia’s so-called “shadow fleet”, accused of illicitly transporting oil to circumvent Western restrictions.

Europe takes bold action against Russia after Putin rejects a ceasefire. The EU and Britain have imposed tough new sanctions on Russia's oil tankers which are bypassing the G7 price cap. Ukrainian President Zelensky welcomes the move,

The E.U. and U.K. have announced fresh sanctions against Russia’s secretive shipping network, in the latest bid to cut off funding for the Kremlin’s war machine.

Russia's oil exports are becoming increasingly difficult to track as the tankers moving the barrels disappear from digital tracking systems. Moscow’s exports slipped slightly in the past four weeks, according to monitoring of those flows by Bloomberg.

The European Union and the United Kingdom have imposed a new batch of sanctions targeting dozens of ships considered to be part of Russia's "shadow fleet" that help Moscow avoid restrictions placed on it over the Kremlin's full-scale invasion of Ukraine more than three years ago.

The EU will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said on Monday.