RUSI Maritime Sanctions Taskforce
The Taskforce examines the challenges facing the implementation and enforcement of maritime sanctions and aims to identify opportunities to improve their effectiveness.
In response to Russia’s full-scale invasion of Ukraine, the G7 has implemented a range of sanctions aimed at restricting the Kremlin’s revenue from oil and other energy exports, critical to financing its military operations. Russia has sought to evade these measures, notably through the development of a shadow fleet designed to circumvent the G7-imposed oil price cap.
To address these challenges, the Centre for Finance and Security has launched a Maritime Sanctions Taskforce. This initiative brings together UK government officials, academic experts, and private sector executives to critically assess the current maritime sanctions regime against Russia.
The Taskforce will focus on the effectiveness of these sanctions, particularly in countering the abuse of the oil price cap and the operational tactics employed by Russia’s shadow fleet. By fostering collaboration and dialogue among both public and private sector stakeholders, the Taskforce aims to enhance the integrity and impact of maritime sanctions, ensuring they achieve their intended objectives in the face of evolving challenges.
Aims and objectives
The RUSI Maritime Sanctions Taskforce aims to:
- Assess effectiveness
Evaluate the current efforts of the UK and G7 countries in implementing maritime sanctions, focusing on their success in countering the activities of Russia’s shadow fleet and the circumvention of the oil price cap.
 - Identify opportunities
Pinpoint avenues for achieving a more effective implementation of maritime sanctions, considering both regulatory and operational improvements within the shipping industry.
Through these efforts, the Taskforce seeks to bolster the collective response to sanctions evasion, ensuring that maritime sanctions remain a potent tool in countering Russia’s war efforts and achieving economic and geopolitical stability.
To achieve this, the Taskforce gathers expert representatives from the key players in the implementation of maritime sanctions, from UK government agencies, to shipping and logistics companies, insurance and P&I community, energy companies, and financial institutions.
The RUSI Maritime Sanctions Taskforce operates with the financial support of Mercuria.
