UK sanctions targeting Russia’s oil giants Rosneft and Lukoil
The UK government reported this, according to Ukrinform.
The 90 new sanctions strike at the heart of Putin’s war funding, directly targeting Rosneft and Lukoil – two of the world’s biggest energy companies, which together export 3.1 million barrels of oil per day. In particular, Rosneft accounts for 6% of global oil production and nearly half of all Russian oil output.
In addition, the sanctions cover four oil terminals in China, 44 shadow fleet tankers transporting Russian oil, and the Indian oil company Nayara Energy Limited, which imported 100 million barrels of Russian oil in 2024, worth over $5 billion.
The UK has also sanctioned eight specialized LNG tankers and a Chinese LNG terminal in Beihai, which has been importing LNG from Arctic LNG2 – Russia’s flagship LNG project that the UK already sanctioned in February 2024.
To further restrict the flow of funds to the Kremlin, the UK has announced it will ban imports of petroleum products refined in third countries from Russian crude oil.
“Today’s sanctions extend beyond oil, tightening the net around Russia’s key military supply chains by hitting businesses that supply electronics critical for Russian drones and missiles terrorising Ukrainian civilians, across countries including Thailand, Singapore, Turkey, and China,” the statement said.
Previously, Ukrinform reported that U.S. President Donald Trump suggested that European sanctions on China could pressure Beijing to push Russia to end its war against Ukraine.
