Support for Ukraine remains steadfast as Britain announces new sanctions against the Russian oil giant.

For the first time, Britain and the United States have directly sanctioned Russian oil giants Gazprom Neft and PJSC Surgutneftegas2. These companies produce more than 1 million barrels of oil per day, worth about $23 billion annually at current prices. Jamaica's GDP. The interests of these two companies are to finance and promote Putin's wars.

Keeping the country safe is a top priority for the Government and an essential part of the Prime Minister's transformation plan. Every attack we make on Russia’s oil revenues is another step towards a just and sustainable peace in Ukraine, and another step towards security and prosperity in the UK and beyond.

Today's action will crack down on President Putin's revenue streams. Oil revenues are critical to Russia's war economy, accounting for about a quarter of Russia's overall budget in 2023. By sanctioning these companies, Russia is expected to significantly increase its potential to generate revenue from energy sales. reduction.

Foreign Secretary David Lammy said:

Oil revenues are the lifeblood of Putin's commodity economy. We will not stand by and let oil interests threaten the lives of Ukrainians, and we will not allow Russia to continue to fill its coffers as it continues to threaten our collective security.

Taking over Russian oil companies would deplete Russia's war chest, and every ruble it takes from Putin's hands will help save lives in Ukraine.

That's why I've made it my personal mission to take down the Kremlin and the corporations that support it, for the sake of our democracy and our common security.

As Russia's economy retreats, faces ever-higher interest rates and billions of dollars hemorrhaging unsustainable and unlawful aggression, we will continue to work with our allies in the United States to end President Putin and his barbaric war. .

Today's announcement comes as Britain continues to put unrelenting pressure on the shadow fleet used by Russia to transport Russian oil. Last month, the Prime Minister announced sanctions on 20 more ships carrying more than 4 million barrels of Russian oil in 2024, bringing the number of Shadow Fleet vessels sanctioned by the UK to 93.

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The following companies were sanctioned today under the Russia (Sanctions) (EU Withdrawal) Regulations 2019:

PJSC Surgutneftegas Gazprom Neft

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