Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 44 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.
Lukoil and Rosneft were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government.
They are subject to an asset freeze, director disqualification, transport restrictions, and a ban on British trust services.
“We are introducing targeted sanctions against the two biggest oil companies in Russia, Lukoil and Rosneft,” said Finance Minister Rachel Reeves during a visit to the United States.
The UK government described the firms as “strategically significant to the Kremlin,” saying their activities contribute to state revenues sustaining Russia’s war.
Reeves added that London is “ramping up pressure on companies in third countries, including India and China, that continue to facilitate the flow of Russian oil onto global markets.”
Russia's embassy in London said the sanctions would backfire by destabilising global energy markets and pushing up costs for British businesses and consumers.
"Contrary to the loud assurances of British leaders, these restrictions will not have any impact on the Russian foreign policy course," the embassy statement said.
The new sanctions target 51 ships, including 44 within the so-called shadow fleet, as well as individuals and entities across sectors including energy and defence.
The latest sanctions also include seven liquefied natural gas tankers and the Chinese Beihai LNG terminal, which has been importing cargoes from the sanctioned Russian Arctic LNG2 facility, Britain said.
AnewZ has premiered The Oligarch’s Design, a long-form investigative documentary marking the launch of AnewZ Investigations, the channel’s new edi...
The foreign ministers of Cambodia and Thailand have told Chinese Foreign Minister Wang Yi that they are willing to pursue a ceasefire, as tensions fla...
The Conservative Party says it would cut funding for green energy projects and redirect the money into defence, arguing the UK needs to be ready for w...
Kazakh President Kassym-Jomart Tokayev’s first official visit to Japan marks a notable moment in relations between the two countries, reflecting a s...
An international scientific-practical congress marking the 90th anniversary of the Azerbaijan State Advanced Training Institute for Doctors named afte...
The Conservative Party says it would cut funding for green energy projects and redirect the money into defence, arguing the UK needs to be ready for war.
The UK government has advised its citizens against travelling to Afghanistan, citing tensions between Pakistan and the Taliban led government.
The head of Britain’s Secret Intelligence Service, the foreign spy service known as MI6, has warned that Russia "remains an aggressive and expansionist threat", vowing sustained support for Ukraine and calling for greater use of technology to protect UK security.
Public spending watchdog says billions were wasted on temporary housing, while Downing Street confirms it will not follow Australia’s lead on age-restricting digital platforms.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
European Union foreign policy chief Kaja Kallas has warned that attempts to reach a peace agreement in Ukraine are being undermined by Russia’s continued refusal to engage meaningfully in negotiations.
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrough in efforts to normalise relations between the long-time rivals.
U.S. President Donald Trump delivered a wide-ranging address from the White House in which he sought to highlight what he described as his administration’s achievements while laying the groundwork for his plans for the year ahead and beyond, on Wednesday (18 December).
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills, ahead of an auction that could set a new record for sports memorabilia.
The foreign ministers of Cambodia and Thailand have told Chinese Foreign Minister Wang Yi that they are willing to pursue a ceasefire, as tensions flared along parts of the two countries’ shared border.
The Conservative Party says it would cut funding for green energy projects and redirect the money into defence, arguing the UK needs to be ready for war.
The European Union is facing mounting political pressure over its ability to keep Russian sovereign assets frozen, as internal divisions, leadership changes and war fatigue reshape decision-making across the bloc.
Kazakh President Kassym-Jomart Tokayev’s first official visit to Japan marks a notable moment in relations between the two countries, reflecting a shared interest in deepening cooperation.
The long-running geopolitical tug-of-war over the world’s most popular short-form video application appears to have reached its finale, resolving a five-year saga that bridged two US presidencies and a brief nationwide service blackout.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment