The United Kingdom (UK) has unveiled its largest sanctions package against Russia since the early phase of the Ukraine war, marking four years since Moscow's full-scale invasion. The announcement was made on Tuesday, February 24, through an official government press release, signalling a renewed effort to curb Russia's financial and military capabilities, reported Ukrinform.
Major move to disrupt Russia's war economy
According to the UK government, the latest measures are aimed at weakening the economic networks that sustain Russia's military operations. The sanctions focus on disrupting financing channels, limiting access to military equipment, and restricting revenue sources linked to energy exports.
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"The UK has today taken decisive action to disrupt the critical financing, military equipment and revenue streams that sustain Russia's aggression," UK Foreign Secretary Yvette Cooper was quoted as saying by Bloomberg.
Cooper said in a statement, describing the package as "our largest raft of measures since the early months of the invasion".
A key target of the package is PJSC Transneft, one of the world's largest oil pipeline companies, responsible for transporting more than 80 per cent of Russian oil exports. Officials said the move aims to further complicate Russia's efforts to sell sanctioned oil in global markets.
Crackdown on oil networks and shadow fleet
The sanctions also focus on what authorities described as a network of illicit oil trading operations. A total of 175 companies linked to the "2Rivers" oil network, considered one of the largest shadow fleet operators, have been sanctioned for trading Russian crude, reported Ukrinform.
Additionally, 48 oil tankers involved in transporting Russian oil have been targeted, reflecting attempts to limit alternative shipping arrangements used to bypass earlier sanctions.
Wider targets across energy and finance
The measures extend beyond oil exports. The UK has imposed sanctions on 49 entities and individuals accused of supporting Russia's war effort, including suppliers providing components and technology used in drones and weapons.
The package also includes restrictions on three civil nuclear energy companies and two individuals linked to overseas nuclear projects, as well as six targets connected to Russia’s liquefied natural gas (LNG) sector, including ships, traders, and export terminals at Portovaya and Vysotsk.
Nine Russian banks involved in processing cross-border payments have also been sanctioned to limit access to international markets and financial systems.
With these additions, the UK has now sanctioned more than 3,000 individuals, businesses, and vessels under its Russia sanctions regime.
