The UK has announced sweeping new sanctions aimed at crippling Russia’s energy revenues, targeting the country’s largest oil producers, state-linked tankers, and overseas partners helping to keep Russian crude flowing to global markets.
Unveiled by Chancellor Rachel Reeves ahead of meetings with global finance leaders in Washington, D.C., the sanctions package includes 90 new measures and represents one of Britain’s most aggressive efforts yet to squeeze Vladimir Putin’s wartime economy.
“We are sending a clear signal: Russian oil is off the market,” Reeves said, pledging to “significantly step up the pressure on Russia and Vladimir Putin’s war effort.”
The sanctions hit Rosneft and Lukoil, Russia’s two biggest oil producers, which together export roughly 3.1 million barrels of oil per day — around 6% of global supply, according to the Treasury.
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