The UK government has lifted sanctions against British accountant John Michael Ormerod, 75, who was accused of purchasing ships later used in Russia's shadow fleet. Ormerod was sanctioned last May after the Financial Times reported he acquired at least 25 second-hand tankers that transported billions of dollars of Russian oil.

Ormerod's delisting followed his public statement encouraging others to avoid business dealings supporting Russia's energy sector. The UK government determined the aims of the designation had been met, according to sources familiar with the process. The sanctions had frozen his UK bank accounts and left him unable to pay for basic needs.

The case highlights the complexities of enforcing sanctions against individuals in the maritime industry. Ormerod's lawyers claimed he conducted extensive due diligence before the purchases, while shipping data showed the vessels transported over 120 million barrels of Russian oil after acquisition.