London
The United Kingdom has imposed fresh sanctions on Russian energy giants Tatneft and Russneft, expanding its economic pressure on Moscow as the war in Ukraine continues. The move targets key revenue sources for the Kremlin and signals a tougher stance from the British government on companies seen as supporting Russia’s military campaign.
The sanctions, announced by the UK government, place asset freezes and financial restrictions on both Tatneft and Russneft, two of Russia’s major oil producers. Any assets held in the UK by the companies are now frozen, and British individuals and businesses are prohibited from providing them with funds, financial services, or economic resources.
Officials said the decision is part of a broader effort to undermine Russia’s ability to finance the war, as oil and gas revenues remain central to the Russian economy. The UK Foreign Office stated that companies operating in Russia’s energy sector continue to generate income that directly benefits the state and, by extension, supports the invasion of Ukraine.
Tatneft, headquartered in the Russian republic of Tatarstan, is one of the country’s largest oil producers, while Russneft also plays a significant role in domestic production and exports. By adding these firms to the sanctions list, the UK aims to close remaining gaps in restrictions that have already targeted other major Russian energy players.
The latest measures were introduced under the Russia (Sanctions) (EU Exit) Regulations 2019 and form part of a wider package that also includes other energy-related companies and individuals linked to Russia’s oil trade. British officials said the action aligns closely with sanctions imposed by international partners, including the European Union and the United States.
Foreign Secretary David Lammy said the UK remains committed to increasing economic pressure on Moscow and will continue to act alongside allies to restrict Russia’s access to global markets. He added that sanctions on the energy sector are designed to hit what he described as “the heart of the Kremlin’s war machine.”
The announcement comes amid growing Western efforts to curb Russia’s oil revenues, including measures targeting tanker fleets and trading networks used to bypass existing restrictions. UK officials say Russian oil income has already declined significantly since the start of the war, but insist more action is needed to sustain pressure.
Moscow has previously dismissed Western sanctions as illegal and ineffective, arguing they harm global energy markets more than Russia itself. There was no immediate public response from Tatneft or Russneft following the UK announcement.
As the conflict in Ukraine continues, British ministers have signaled that additional sanctions remain on the table, warning that any company or individual helping to finance Russia’s war effort could face similar measures. The government says it will continue to review enforcement and work with allies to ensure sanctions are applied consistently and effectively.
Discover More Starmer Transfers £2.5bn Chelsea Sale Funds to Ukraine
Discover more from VyvyDaily
Subscribe to get the latest posts sent to your email.
