UK Unveils New Sanctions Package Targeting Russia’s Oil, Military Sectors

(MENAFN) The United Kingdom on Tuesday announced nearly 300 new sanctions against Russia, describing it as its “biggest” package to date, aimed at crippling key revenue streams and military supply chains.

A Foreign Office statement said the measures, unveiled on the fourth anniversary of the Russia-Ukraine war, represent the most extensive sanctions the UK has imposed on Russia during this period.

"Today’s action targets one of the world’s largest oil pipeline companies, PJSC Transneft, responsible for transporting over 80% of Russian oil exports, further hampering the Kremlin’s desperate scramble to find buyers for its sanctioned oil," the statement said.

The sanctions also focused on Russia’s covert oil trading network, penalizing 175 companies linked to the “2Rivers” oil group, described as one of the world’s largest shadow fleet operators and a major trader of Russian crude.

In addition, the package targets 49 entities and individuals, including international suppliers of Russian drones, components, and technology, as well as actors in Russia’s liquefied natural gas sector. Nine banks handling Russian cross-border payments are also included.

Foreign Secretary Yvette Cooper said, "The UK has today taken decisive action to disrupt the critical financing, military equipment and revenue streams that sustain Russia’s aggression, in our largest raft of measures since the early months of the invasion."

She also announced £30 million ($40.52 million) in funding to bolster Ukrainian energy resilience and support recovery, bringing total UK support to £21.8 billion since the war began. Cooper emphasized continued backing for Ukraine, stating that "Ukraine’s security is our security."

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