"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."
"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. Rosneft, the larger of the two, accounts for nearly half of all Russian oil output and is a major source of foreign currency for Moscow. The UK is also blacklisting 44 tankers linked to Russia's so-called "shadow fleet" - vessels used to transport oil under opaque ownership structures to evade existing Western sanctions."
A 90-measure sanctions package was announced ahead of meetings with global finance leaders in Washington, D.C. The package aims to cripple Russia's energy revenues and squeeze its wartime economy by targeting the country's largest oil producers, state-linked tankers, and overseas partners. Measures specifically target Rosneft and Lukoil, which together export roughly 3.1 million barrels per day, about 6% of global supply, with Rosneft accounting for nearly half of Russian output and significant foreign currency. The UK blacklisted 44 tankers tied to a shadow fleet used to evade sanctions. Entities in India and China, including Nayara Energy Limited, were added for facilitating Russian crude flows; Nayara imported 100 million barrels in 2024 valued at over $5 billion.
Read at Business Matters
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