UK imposes fresh sanctions on Russia’s major oil companies, Rosneft and Lukoil, in a move to target the core of Russia’s economy. This action is part of a broader strategy to increase pressure on Moscow. Rosneft alone accounts for 6% of global oil production and nearly half of Russia’s oil output.
Foreign Secretary Yvette Cooper emphasized the significance of these 90 new sanctions, aiming to strike at the heart of Russia’s economic structure. The goal is to compel Russian President Vladimir Putin to abandon his aggressive actions in Ukraine and prioritize peace efforts.
Chancellor Rachel Reeves, currently attending a G7 meeting in Washington, reiterated the message that Russian oil will no longer be available in the market. The UK is committed to disrupting the financial resources that support Putin’s military operations and holding accountable those involved in Russia’s invasion of Ukraine.
Meanwhile, concerns were raised about India’s continued purchase of discounted Russian oil despite international efforts to isolate the Kremlin. Keir Starmer, during discussions with Indian Prime Minister Narendra Modi, addressed the issue and outlined steps to resolve the conflict, focusing on disrupting the Russian shadow fleet.
The UK, together with its allies, is intensifying efforts to pressure Russia economically and diplomatically, signaling a unified stance against Putin’s aggressive actions.