UK hits 10 largest Russian oil producers with massive sanctions
The UK has announced a major new package of sanctions against Russia, becoming the first country to introduce punitive measures against all 10 of the largest Russian oil producers.
Source: European Pravda, citing a statement by the UK government
Details: The new UK sanctions package includes shadow fleet vessels involved in transporting Russian oil and LNG, large coal companies, and Rosneft's flagship Arctic oil and gas project, Vostok Oil LLC. Sanctions are also being imposed on Slavneft.
Thus, the UK has become the first country in the world to apply sanctions to all 10 of the largest Russian oil producers.
The statement noted that this step also meant that the UK was targeting almost every link in the chain of energy revenues in the oil and gas sectors, including producers, retail networks, supply chains and vessels, to further restrict Russia's ability to generate revenue and fund its illegal war.
UK Prime Minister Andy Burnham noted that peace negotiations on Ukraine had moved forward but added that it was not the time for complacency.
He emphasised that they had to continue to increase pressure on Russia to achieve a full and immediate ceasefire, which was why the UK had announced a series of harsh new sanctions to limit Russia's oil revenues and accelerate the end of the senseless war waged by the Kremlin.
Background:
- On Monday 16 November, the EU is set to impose sanctions restrictions against 50 banks operating in Russia, as previously reported.
- On Wednesday, European Pravda learned that ambassadors of the European Union member states at a meeting of the Committee of Permanent Representatives (Coreper) had provisionally agreed to add 145 individuals and legal entities to the sanctions lists against Russia.
- On 12 October, the EU approved the most extensive expansion of personal sanctions against the Russian Federation, with almost 1,600 individuals and legal entities in the new list.
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