The United Kingdom has unveiled a significant sanctions package aimed at crippling Russia's oil revenues and its capacity to sustain the war against Ukraine. This new set of nearly 300 sanctions, announced on February 24, is the most extensive package implemented by the UK since the onset of the full-scale invasion of Ukraine in 2022. The sanctions specifically target important sectors that financially support the Kremlin's military operations, especially in the energy sector, with an emphasis on oil exports.

One of the major targets of this sanctions package is Transneft, a leading pipeline operator responsible for the majority of Russia's oil exports. By hitting companies that play a vital role in the energy supply chain, the UK aims to increase the economic pressure on Russia, making it more challenging for the Kremlin to secure buyers for its oil amidst existing sanctions. This move is part of a broader strategy to deter Russia’s military aggression and diminish its funding sources for the ongoing conflict in Ukraine.

The timing of these sanctions also marks the four-year anniversary of Russia's full-scale invasion, highlighting the UK government's resolve to support Ukraine and confront Russian aggression. With these new measures, the UK strengthens its position in the global effort to undermine Russia's military capabilities, demonstrating a commitment to international cooperation against unlawful actions in Ukraine and beyond.