UK Sanctions Fractal Shipping & Beks Ship Management

The Ukrainian flag
Updated Published

Fractal Shipping, based in the UAE, and Turkey's Beks Ship Management have been highlighted in the recent set of sanctions announced by the UK, just before the two-year mark of Russia's extensive invasion of Ukraine.

In the past few years, both Fractal and Beks have notably expanded their fleet sizes. The sanctions imposed by the UK also affect other maritime-related companies, including Turkey's Active Shipping, Arctic LNG 2, and the oil merchant Niels Troost along with his Swiss firm Paramount Energy & Commodities. Additionally, Azia Shipping Company and Ibex Shipping, which have been accused of facilitating arms transfers from North Korea to Russia, faced sanctions.

The UK's foreign minister, David Cameron, commented on the measures, stating: “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.”

According to a statement from the British government, the UK is set to enhance its current measures aimed at addressing "malign Russian shipping activity and individual ‘shadow fleet’ vessels" utilized by Russia.