Fresh UK sanctions have been imposed on Russia’s major oil companies as part of the ongoing pressure campaign against Vladimir Putin’s regime. Foreign Secretary Yvette Cooper announced the direct targeting of Rosneft and Lukoil, two of the largest energy corporations globally. These sanctions are among the 90 new measures aimed at weakening Russia’s economy significantly.
Rosneft, responsible for 6% of global oil production and nearly half of Russia’s oil output, is a primary focus of these sanctions. The UK government, in coordination with its allies, aims to intensify the economic squeeze on Moscow by hitting key sectors such as oil and gas.
In response to the escalating conflict in Ukraine, Chancellor Rachel Reeves emphasized the UK’s commitment to cutting off Russian oil from the market. She reiterated the government’s determination to undermine the financial support sustaining Putin’s military actions in Ukraine.
Keir Starmer raised concerns about India’s continued purchase of Russian oil during discussions with Indian Prime Minister Narendra Modi. Despite efforts by European countries to increase pressure on Russia, India persists in buying discounted Russian oil, complicating international efforts to isolate the Kremlin.
The issue of India’s oil purchases was a focal point of the dialogue between Starmer and Modi, with both leaders emphasizing their respective strategies for resolving the conflict and targeting illicit Russian activities, particularly the shadow fleet used for military purposes.