UK Announces Largest Sanctions Package Since Ukraine War Began, Targeting Russian Oil Revenue

London. The United Kingdom has announced its largest new sanctions package since the start of the Russia-Ukraine war in 2022, aiming to cut Moscow's crucial oil revenue.

The package includes nearly 300 new sanctions targeting Russian energy revenue, particularly oil exports, as well as key suppliers of military equipment bolstering the war effort.

The UK confirmed that under its sanctions regime, more than three thousand individuals, entities, and vessels have now been sanctioned.

The restrictions come alongside UK Foreign Secretary Yvette Cooper's visit to Kyiv and a new support package designed to strengthen Ukraine's capabilities.

The new sanctions are reportedly specifically targeting pipeline companies, through which more than 80% of Russia's oil exports are transported. This move is expected to further complicate the marketing and distribution of sanctioned Russian crude oil.

According to the UK government, international sanctions have so far deprived Moscow of over $450 billion in revenue, which is reportedly equivalent to funding Russia's military operations in Ukraine for an additional two years.