Britain imposed its largest package of sanctions on Russia in years on Tuesday (24 February), marking the fourth anniversary of Moscow’s invasion of Ukraine, as London also announced fresh military and humanitarian support for Kyiv.
The measures were unveiled amid renewed divisions within Europe after European Union (EU) foreign ministers failed to agree on a separate sanctions package.
London said the new restrictions target nearly 300 Russian-linked individuals and entities, including Transneft, one of the world’s largest pipeline operators.
The government said Transneft is responsible for transporting more than 80% of Russia’s crude oil exports and was included in the sanctions to further curb Moscow’s ability to generate energy revenues.
The package also blacklisted 48 oil tankers that officials said formed part of Russia’s broader export network.
Foreign minister Yvette Cooper said the measures were intended to disrupt key financial and logistical channels supporting the Kremlin.
In a statement, she said Britain had taken "decisive action to disrupt the critical financing, military equipment and revenue streams that sustain Russia's aggression."
Sanctions have been imposed on nine Russian banks, including Avers Bank, Tochka Bank, Post Bank, Fora-Bank, Ak Bars Bank, Lanta-Bank, Sinara Bank, Absolut Bank and Transcapitalbank.
Restrictions have been placed on 142 companies from the United Arab Emirates, 39 from China, three from Thailand and two from India, as well as the Warsaw-based firm Alliance Capital, according to Russian state media, Tass.
London has repeatedly argued that restricting Russian oil transport capacity is central to limiting the funds available to finance the war in Ukraine. Officials added that further measures remain under review in coordination with allies.
UK imposed sanctions on two Georgian pro-government television channels, Imedi and Postv, accusing them of spreading misleading narratives about Russia's conflict in Ukraine.
The measures, part of a wider package targeting 297 entities on the fourth anniversary of Moscow's 2022 invasion, include asset freezes and bans on operating UK-based companies.
London said the broadcasters amplified claims that undermine Ukraine, with Imedi portrayed as pushing narratives that Kyiv's government is "illegitimate" or controlled by the West.
Imedi dismissed the sanctions as "worthless", while Postv founder Shalva Ramishvili said the move came "because we're not saying that Ukraine is beating Russia."
Georgia has tilted more towards authoritarianism and deepened economic ties with Russia since 2022, while avoiding sanctions despite offering humanitarian aid to Ukraine.
Imedi was recently sold by former owner Irakli Rukhadze, a Georgian-born U.S. citizen, to Prime Media Global, with half the shares going to current management.
Alongside the sanctions, Britain announced a new package of military, humanitarian and reconstruction assistance for Ukraine, exactly four years after Russia launched its full-scale invasion.
Prime Minister Keir Starmer will later lead a call of the so-called “Coalition of the Willing” group of allies, while Foreign Secretary Cooper is due to attend commemorations in Kyiv.
Britain will provide £20 million in emergency energy support to help protect and repair Ukraine’s power grid and expand electricity generation capacity.
A further £5.7 million has been allocated for humanitarian assistance to communities on the frontline of the conflict.
Ukrainian pilots will also receive training in Britain to become helicopter flying instructors.
An additional £30 million will be directed towards strengthening Ukraine’s societal resilience and supporting justice and accountability efforts for victims and survivors of alleged Russian war crimes.
Separately, EU foreign ministers failed on Monday (February 23) to approve the bloc’s 20th sanctions package against Russia after Hungary maintained its veto, blocking both the proposed measures and a planned €90 billion loan for Ukraine.
The dispute centred on suspended oil flows through the Soviet-era Druzhba pipeline, with Budapest insisting Ukraine restore deliveries before it would support decisions favourable to Kyiv.
EU foreign policy chief Kaja Kallas described the lack of agreement as “a setback,” while Slovakia also signalled it would halt emergency electricity supplies to Ukraine until flows resume.
Ukraine has said the disruption followed a Russian attack on pipeline infrastructure in January and that repairs are under way.
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