LONDON: The UK on Tuesday tightened its sanctions on Russia鈥檚 so-called shadow fleet, slapping bans on 20 more ships and blacklisting 10 other people or bodies involved in energy and shipping.

Security analysts say the fleet of aging vessels is used by Russia to circumvent international sanctions that ban it from selling oil.

Hundreds of vessels have now been sanctioned by the European Union and the UK since Russian President Vladimir Putin ordered the invasion of Ukraine in February 2022.

The UK鈥檚 new additions to its assets freeze list include the Orion Star group and Rosneft Marine (UK), both said to be significant to Russia鈥檚 energy sector, as well as the deep-sea research unit at the Russian defense ministry.

Although Russia鈥檚 economy has not collapsed under the sanctions, officials insist they are having an impact.

鈥淩ussia鈥檚 economy is slowing and the Kremlin has been forced to make increasingly painful trade-offs to support its war effort,鈥� Downing Street said in a statement.

It claimed the sanctions imposed in the last three years 鈥渉ave deprived Russia of at least $450 billion.鈥�

鈥淏y one estimate, that鈥檚 equivalent to around two more years of funding for the invasion,鈥� it added.

The UK alone has sanctioned over 2,300 individuals, entities and ships since the start of the
invasion.

UK Prime Minister Keir Starmer said he wanted to hone the new sanctions with Britain鈥檚 other G7 partners meeting this week in Canada.

鈥淲e should take this moment to increase economic pressure and show President Putin it is in his 鈥� and Russia鈥檚 interests 鈥� to demonstrate he is serious about peace.鈥�

With peace talks stalling, Ukrainian President Volodymyr Zelensky had hoped to press US counterpart Donald Trump to step up sanctions on Russia at the G7 summit.

But as the conflict between Iran and Israel escalated, Trump left the summit early without meeting Zelensky, saying he had 鈥渂ig stuff鈥� to do in Washington. And he has proved reluctant about new sanctions.

The EU has imposed 18 rounds of sanctions on Russia.

Downing Street said 鈥渘ew information鈥� showed Western were creating 鈥渟ignificant challenges鈥� for Russian state enterprises, including funding shortfalls, delays in major projects, and growing debt due to high interest rates.