New UK sanctions will cut off Kremlin's access to oil revenue – Yermak

Andriy Yermak, head of the Office of the President of Ukraine, reported this on Telegram, according to Ukrinform.

"We thank the United Kingdom for delivering another blow to Putin’s sources of income. A total of 137 new sanctions strike at the heart of Russia's energy sector — cutting off the Kremlin's access to the oil revenues it uses to fund its war against Ukraine," Yermak said.

According to him, 135 tankers belonging to Russia's "shadow fleet," which have illegally transported $24 billion worth of Russian oil this year alone, have been targeted.

Yermak said that a significant portion of these sanctions were imposed at the request of Ukraine's sanctions task force.

Notably, the sanctions target Intershipping Services LLC, a company that registers vessels under the flag of Gabon, enabling the Kremlin to earn up to $10 billion annually, and Litasco Middle East DMCC, a subsidiary linked to the Russian oil giant Lukoil, which continues to facilitate the large-scale transportation of Russian oil.

Yermak added that the UK and the EU had lowered the price cap on Russian oil — "another step toward depleting Putin's war budget."

Yermak said that Ukraine fully supports this strategic approach, adding that daily pressure on the Russian economy is not only the path to peace for Ukraine but also to security for Europe and the world.

"Sanctions must be targeted, systemic, and relentless. Together with our partners, we are working to reduce the aggressor's resources — every single day," he said.

Photo: Office of the President of Ukraine