UK finance minister calls for tighter Russian shipping sanctions
USO•British finance minister John Healey urged other nations to tighten sanctions on Russia-linked shipping. Britain will provide £17 million ($23 million) toward repairs to Ukraine’s Chornobyl nuclear power plant, and Healey said he would stick to plans to reduce borrowing in his October 28 budget statement.
1. Call for tougher sanctions
Healey urged finance ministers to maintain tough economic sanctions on Russia, particularly a tighter ban on shipping services he said help Russia’s “shadow fleet” operate. Britain has imposed sanctions on shipping and related services it believes Russia uses to fund and equip its war on Ukraine.
2. Other policy remarks
A US official said the Trump administration was considering easing sanctions on shadow fleet vessels that have transported oil and petroleum products from Russia, Iran and Venezuela, citing record-high global freight rates. Healey also said Britain would provide £17 million ($23 million) toward repairs to Ukraine’s Chornobyl nuclear power plant, damaged by a Russian drone strike last year, alongside support from the US and France. He said he would follow the IMF’s advice to stay on track with plans to reduce borrowing in his October 28 budget statement.
