US EditionUK targets Russia’s ‘shadow fleet’ and sanctions oil giants
- On Wednesday, the United Kingdom government sanctioned Rosneft, Lukoil, more than 40 shadow fleet tankers, and four Chinese oil terminals as part of 90 new sanctions.
- Foreign Secretary Yvette Cooper said the sanctions aim to tighten pressure and make Russia's escalation come at a clear cost, while Rachel Reeves, Chancellor of the Exchequer, said they seek to 'choke off energy revenues' and increase pressure on Vladimir Putin, Russian President's war effort.
- Measures against Rosneft and Lukoil include asset freezes, director disqualifications, and trust services sanctions; Rosneft CEO Igor Sechin and Lukoil CEO Vagit Alekperov have been under British sanctions since spring 2022.
- London said the sanctions are a 'huge blow' to Russian President Vladimir Putin and named India's Nayara Energy Limited, which imported 100 million barrels worth more than $5b last year, for EU summit review next week.
- Earlier this year, the UK joined the US in sanctioning Gazprom Neft and Surgutneftegas, while Defence Secretary John Healey confirmed Nato support and delivery of more than 85,000 weapons to Ukraine.
45 Articles
45 Articles
UK Sanctions Russia’s Largest Oil Companies in Latest Package Amid Ukraine War
The Government has sanctioned Russia’s biggest oil producer Rosneft as part of its latest set of measures targeting Russia’s economy amid the war in Ukraine. Foreign Secretary Yvette Cooper announced Rosneft, along with Lukoil – two of the world’s largest energy companies – would face restrictions from the UK. The Foreign Office said the two firms export 3.1 million barrels of oil a day. Rosneft, Russia’s largest firm, is responsible for 6% of g…
UK targets sanctions at Russia oil giants over Ukraine war
The UK government has announced that it is to target sanctions on the largest Russian oil companies and global businesses that help fund the war in Ukraine. Foreign Secretary Yvette Cooper announced that Rosneft, along with Lukoil – two of the world’s largest energy companies – would face restrictions from the UK. It comes as Nato leaders met in Brussels, committing to spending more on weapons for Ukraine, and discussing bolstering Europe-wide d…
British Finance Minister Rachel Reeves said today that London has imposed sanctions on Russia's two largest oil companies, Lukoil and Rosneft.
On Wednesday, the United Kingdom imposed sanctions on Russia's largest oil companies, Lukoil and Rosneft, as well as tankers from the Russian shadow fleet.
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