Foreign Secretary Yvette Cooper told MPs the government was directly targeting Rosneft and Lukoil – two of the world’s biggest energy companies – to ramp up pressure on Moscow
Vladimir Putin’s war machine has been hit by fresh UK sanctions targeting Russia’s largest oil firms.
Foreign Secretary Yvette Cooper told MPs the government was directly targeting Rosneft and Lukoil – two of the world ’s biggest energy companies.
She said it was part of 90 new sanctions striking the “heart” of Russia’s economy as ministers attempt to ramp up pressure on Moscow’s economy. The Foreign Office said Rosneft alone is responsible for 6% of global and nearly half of all Russian oil production.
Ms Cooper said: “At this critical moment for Ukraine, Europe is stepping up. Together, the UK and our allies are piling the pressure on Putin – going after his oil, gas and shadow fleet – and we will not relent until he abandons his failed war of conquest and gets serious about peace.
“Even with his war economy creaking, his people suffering, and his army enduring unthinkable losses – still he sends drones and missiles after innocent civilians.”
Chancellor Rachel Reeves, who is meeting G7 ministers in Washington today, added: “We are sending a clear signal: Russian oil is off the market.
“As Putin’s aggression intensifies, we are stepping up our response. The UK will continue to strip away the funding that fuels his war machine. We will hold to account all those enabling his illegal invasion of Ukraine.”
It comes after Keir Starmer used a private meeting with Narendra Modi last week to press him on India’s purchase of Russian oil as the brutal Ukraine war rages on.
India continues to buy discounted Russian oil despite European allies attempting to rachet up pressure on the Kremlin.
Asked whether the issue of India buying Moscow’s oil was raised during his talks with Mr Modi, Mr Starmer said last week: “Yes, we did discuss that this morning with President Modi, and we each went through the steps we’re taking to bring about a resolution of the conflict.
“We emphasised, in particular, our focus on the [Russian] shadow fleet and the work that we’re doing leading the coalition of the willing.”