(MENAFN- Live Mint) India is again facing pressure from foreign countries as it continues to purchase Russian oil despite US tariffs, this time from the United Kingdom, according to media reports.

This comes after Britain targeted two Russian oil companies, Lukoil and Rosneft, and 44 shadow fleet tanker, in what it said was a new attempt to put pressure on energy sanctions and curtail revenues received by Kremlin.

What did Britain say about India?

Speaking to reporters during a trip to the United States, Britain's finance minister Rachel Reeves said that apart from launching direct financial attacks on Russia, the UK is also ramping up pressure on third countries like China and Indi who continue to buy energy from Moscow.

“At the same time, we are ramping up pressure on companies in third countries, including India and China, that continue to facilitate getting Russia oil onto global markets,” she said.

Nayara, a Russian-owned refinery based in Mumbai, India, was among the sanctioned companies.

Which Russian oil companies did Britain target?

Lukoil and Rosneft , and 44 shadow fleet tankers have been targeted by the UK to put more sanctions on Russian oil.

“We are introducing targeted sanctions against the two biggest oil companies in Russia, Lukoil and Rosneft,” Reeves said.

Also Read | 85 Senators back 500% tariff on China for buying Russian oil, says Scott Bessent

Lukoil and Rosneft are two of the largest Russian oil companies. Rosneft is Russia's leading oil producer, accounting for around 40% of the country's total output, and Lukoil is the second-biggest, with the largest foreign exposure among its domestic peers.

Both the companies were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government.

As per the British government, the two companies are strategically important to Moscow and their business activities were of economic significance to Russia, contributing to state revenues that help sustain its war in Ukraine.

What does this mean for Russia?

As an immediate effect, Lukoil and Rosneft, along with the tankers, will face an asset freeze, director disqualification, transport restrictions, and a ban on British trust services.

The measures taken by Britain will reduce ship and ship insurance availability for Russia, as some volumes of Russian oil were still being transported and insured on their routes to Asia by British-based companies, Reuters reported quoting traders familiar with Russian oil sales.

Also Read | EU unlikely to impose tariffs on India, China over Russian oil purchases Also Read | 'India is an awesome US ally, but...': US energy secy amid tariff woes

However, Russia's embassy in London has said that the move would backfire as global energy markets would destabilise and push up costs for British consumers and businesses.

“Contrary to the loud assurances of British leaders, these restrictions will not have any impact on the Russian foreign policy course,” the embassy said in a statement.

The new sanctions target 51 ships, including 44 within the so-called shadow fleet, as well as individuals and entities across sectors including energy and defence.

MENAFN16102025007365015876ID1110203536