UK, together with US, imposes sanctions on Russian oil giants
Photo: David Lammy, UK Foreign Secretary (Getty Images)
The UK has imposed sanctions on Russian companies Gazprom Neft and Surgutneftegaz for the first time. The restrictions will affect Russia's oil revenue, according to the UK government's press service.
The UK government noted that Gazprom Neft and Surgutneftegaz produce over 1 million barrels of oil per day, amounting to approximately $23 billion annually. This exceeds Jamaica's GDP.
"The profits from these 2 companies are lining Putin’s war chest and facilitating the war," the government clarified.
They added that every strike the UK makes against Russia's oil revenue is another step toward a just and lasting peace in Ukraine.
"Oil revenues are the lifeblood of Putin’s war economy. We will not stand by and let oil profits endanger the lives of Ukrainians – nor will we let Russia keep filling its coffers as it continues to threaten our collective security," stated UK Foreign Secretary David Lammy.
He added that targeting Russian oil companies would deplete Russia's military budget and help save Ukrainian lives.
US sanctions
Earlier, the US Department of the Treasury announced sanctions against Russian companies Gazprom Neft and Surgutneftegaz.
As a result, all assets of the sanctioned entities located in the US or under the control of US persons are blocked.
US Treasury Secretary Janet Yellen emphasized that these restrictions are radical measures against the primary source of income for Russia.
