Fractal and Beks included in latest UK sanctions

Fractal Shipping from the UAE and Turkey’s Beks Ship Management are among the high profile shipping names included in the latest raft of sanctions unveiled by the UK yesterday ahead of tomorrow’s second anniversary of Russia’s full-scale invasion of Ukraine. 

Both Fractal and Beks have seen their fleet size increase dramatically over the last couple of years. Other shipping-related entities hit with UK sanctions yesterday include Turkey’s Active Shipping, Arctic LNG 2 and oil trader Niels Troost and his Swiss company Paramount Energy & Commodities. Azia Shipping Company and Ibex Shipping, accused of transferring weapons from North Korea to Russia, were also sanctioned.

David Cameron, the UK’s foreign minister, said: “Our international economic pressure means Russia cannot afford this illegal invasion. Our sanctions are starving Putin of the resources he desperately needs to fund his struggling war.”

A release from the British government said the country was preparing to bolster its existing powers to target “malign Russian shipping activity and individual ‘shadow fleet’ vessels” used by Russia.