UK joins U.S. in sanctions against Russia's largest oil companies

This is stated on the website of the UK government.

“These energy companies produce over 1 million barrels of oil per day between them – worth roughly $23 billion a year at current prices, more than the GDP of Jamaica. The profits from these 2 companies are lining Putin’s war chest and facilitating the war,” the statement said.

The UK government expressed its belief that the new sanctions are “another step towards a just and sustainable peace in Ukraine, and a step towards security and prosperity in the UK and beyond.”

British Foreign Secretary David Lammy emphasized the importance of tracking Russia's oil revenues.

“Taking on Russian oil companies will drain Russia’s war chest – and every ruble we take from Putin’s hands helps save Ukrainian lives,” he emphasized.

Mr. Lammey stated that, given Russia's current economic challenges, including rising interest rates and the costs of its illegal war, the UK government is collaborating with the U.S. to maintain pressure on the Kremlin.

Zelenskyy's response

President of Ukraine Volodymyr Zelenskyy thanked the United Kingdom for the new sanctions against Russia.

“I am grateful to the United Kingdom for its unwavering support and decisive actions against the Russian military machine. By imposing sanctions against the two largest Russian oil companies, the UK has once again significantly limited Putin's ability to finance aggression,” the president said.

According to him, these “synchronized actions with the United States demonstrate the strength of international unity.”

• On Friday, January 10, the United States announced sanctions against a number of Russian oil and insurance companies. The list of sanctioned companies includes Surgutneftegas, Gazprom Neft, Ingosstrakh, AlfaStrakhovanie, and Radkomflot.