The United Kingdom has imposed its strongest round of sanctions yet against Russia, directly targeting the country’s oil industry and global businesses accused of supporting President Vladimir Putin’s war in Ukraine.
A total of 90 new sanctions have been announced, aimed at cutting off the Kremlin’s energy revenues by focusing on Russian oil giants Rosneft and Lukoil. Together, the two companies export around 3.1 million barrels of oil per day, with Rosneft alone accounting for nearly 6% of global oil production and almost half of Russia’s output.
The measures, introduced in Parliament by Foreign Secretary Yvette Cooper, coincide with Chancellor Rachel Reeves’s visit to Washington DC for the International Monetary Fund Annual Meetings. There, Reeves is expected to meet G7 Finance Ministers and attend a Ukraine roundtable to rally international partners in further isolating Russia’s war economy.
The new sanctions also extend to four oil terminals in China, 44 tankers from Russia’s
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